KUALA LUMPUR, Aug 16 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) continuous intervention to absorb excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM25.71 billion in the conventional system and RM12.36 billion in Islamic funds.

BNM will conduct four conventional money market tenders of RM1.5 billion for seven days, RM1.5 billion for 14 days, RM1.0 billion for 30 days and RM1.0 billion for 62 days.

The central bank will also conduct a RM3.9 billion Qard Islamic Range Maturity Auction tender for seven to 30 days.

At 4pm, BNM will conduct an up to RM21.0 billion in conventional overnight tender and a RM8.5 billion overnight Qard. — Bernama