KUALA LUMPUR, Dec 8  — Short-term rates are expected to remain steady 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 RM36.5 billion in the conventional system and RM10.1 billion in Islamic funds. 

BNM will undertake four Qard tenders of RM2.2 billion for seven days, RM600 million for 14 days, RM200 million for 21 days and another RM200 million for 32 days.

It will also conduct three conventional money market tenders of RM2 billion for seven days, RM1.5 billion for 14 days and RM500 million for 32 days, as well as a RM300 million reverse repo tender for 62 days.

At 4pm, BNM will conduct up to RM33 billion conventional overnight tender and RM6.9 billion Qard. — Bernama