Short-term rates to remain stable
Short-term interbank rates are expected to remain stable today as Bank Negara intervenes to reduce excess liquidity from the financial system.
The central bank estimated today's liquidity at RM23.916 billion in the conventional system and RM5.156 billion in Islamic funds.
The bank will call for three conventional tenders, comprising two RM1.5 billion each for seven days and 28 days, respectively, and a RM1 billion for 21 days.
The central bank will also call for a RM350 million repo tender for 31 days.
Four Al-Wadiah tenders -- RM1.2 billion each for seven days and 15 days respectively; RM200 million for 21 days; and RM300 million for 28 days will also be called.
At 4pm, Bank Negara will conduct up to RM19.6 billion in conventional overnight tenders and a RM2.3 billion Al-Wadiah overnight tender.-- Bernama