KUALA LUMPUR, Jan 15 — Short-term interbank rates are forecast to be stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

BNM estimated today’s liquidity at RM38.44 billion in the conventional system and RM11.17 billion in Islamic funds.

The central bank will conduct a conventional money market tender of RM5 billion, a Qard tender of RM2 billion and a commodity murabahah programme of RM1.2 billion, all for seven days.

BNM will also call for two repo tenders of RM400 million each for 31 days and 45 days.

At 4pm, BNM will conduct up to RM32 billion in conventional overnight tender and a RM8 billion Qard. — Bernama