KUALA LUMPUR, Jan 5 — 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 RM34.19 billion in the conventional system and RM9.76 billion in Islamic funds.

BNM will conduct three conventional money market tenders worth RM1.5 billion

each for seven days, RM1 billion for 14 days and RM1 billion 32 days, as well as a RM3 billion Islamic range maturity auction (iRMA) Qard tender for seven days to 29 days.

It will also conduct a RM600 million reverse repo tender for 32 days.

At 4pm, BNM will conduct up to RM31 billion conventional overnight tender and RM6.8 billion Qard overnight tender. — Bernama