Short-term rates to remain stable

Short-term interbank rates are expected to remain stable today on Bank Negara's intervention to reduce excess liquidity from the financial system.

The central bank estimated today's liquidity at RM23.04 billion in the conventional system and RM4.75 billion in Islamic funds.

The bank will call for three conventional tenders comprising RM1 billion for seven days and 14 days and RM2 billion for 28 days as well as a RM100 million repo tender for 31 days.

Three Al-Wadiah tenders -- RM600 million for seven days; RM500 million for 11 days; and RM1 billion for 20 days will also be called.

At 4pm, Bank Negara will conduct up to RM18.9 billion in conventional overnight tenders and a RM3.1 billion Al-Wadiah overnight tender