Short-term rates to remain stable
Short-term interbank rates are expected to remain stable today as Bank Negara intervenes to absorb excess liquidity from the financial system through various instruments.
The central bank estimated today's liquidity at RM32.93 billion in the conventional system and RM6.11 billion in Islamic funds.
The bank will call a RM10 billion money market tender for one to 91 days and three repo tenders -- RM250 million for 32 days, RM100 million for 91 days and RM300 million for 123 days.
It will also call for two Al-Wadiah tenders of RM1.3 billion for six days and RM400 million for 28 days.
At 4pm, the bank will conduct a conventional overnight tender of up to RM222.3 billion and a RM4.8 billion Al-Wadiah overnight tender.-- Bernama