KUALA LUMPUR, April 26 — Short-term rates are expected to remain steady next week as Bank Negara Malaysia (BNM) continues to intervene to siphon excess funds from the interbank system, dealers say.

The central bank is expected to daily call for several money market tenders, including conventional, Islamic, Commodity Murabahah programme, range maturity auctions and repo tenders.

For the week just ended, BNM intervened daily to absorb surplus funds.

Surplus liquidity in the conventional system amounted to RM18.797 billion while the excess in the Islamic system was RM2.551 billion.

The overnight rate remained pegged at 2.94 per cent while the one-week, two-week and three-week rates stood at 3.02 per cent, 3.06 per cent and 3.09 per cent respectively. — Bernama