KUALA LUMPUR, June 23 — Short-term rates are expected to remain steady today with Bank Negara Malaysia (BNM) continuing to reduce excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM31.57 billion in the conventional system and RM11.76 billion in Islamic funds.

BNM will call for a RM6 billion range maturity auction money market tender for seven to 32 days and a RM5.6 billion Islamic range maturity auction Qard for five to 15 days.

A RM500 million Islamic range maturity auction commodity murabahah programme for 30 to 32 days and a repo tender of RM500 million for 32 days will also be called.

The central bank will conduct a conventional and Qard overnight tender of up to RM25 billion and RM5.6 billion respectively at 4pm. — Bernama