Short-term rates to remain stable

Short-term rates are expected to remain stable Wednesday, with Bank Negara Malaysia intervening to absorb excess liquidity from the financial system, dealers said.

The central bank estimated today's surplus at RM26.396 billion in the conventional system and RM6.825 billion in Islamic funds.

Bank Negara will call for four conventional tenders of RM1 billion for seven days, RM1 billion for 14 days, RM1 billion for 21 days and RM1 billion for 32 days.

It will also conduct a repo tender for RM200 million for 92 days.

The central bank will call for four Al-Wadiah tenders for RM1.4 billion for seven days, RM800 million for 14 days, RM1.4 billion for 21 days and RM1.2 billion for 28 days.

The central bank will conduct a Commodity Murabahah Programme of RM100 million for 26 days.

At 4pm, the central bank will conduct an up to RM22.3 billion conventional overnight tender and RM2.5 billion Al-Wadiah overnight tender.-- Bernama