KUALA LUMPUR, Sept 19 ― Short-term interest rates are expected toremain stable next week as Bank Negara Malaysia (BNM) continues to intervene to reduce excess surplus in the money market.

For the week just-ended, the overnight rate ended at 3.21 per cent while the one-, two- and three-week rates were at 3.28 per cent, 3.32 per cent and 3.36 per cent, respectively.

BNM had intervened daily with tenders to mop up excess funds in the market.

As of Friday, the central bank's borrowings brought down the total liquidity surplus to RM30.06 billion in the conventional system and RM7.54 billion in Islamic funds.

On a week-to-week basis, the benchmark three-month Kuala Lumpur Interbank Offered Rate remained at 3.73 per cent. ― Bernama