KUALA LUMPUR, May 8 — 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 RM34.89 billion in the conventional system and RM9.92 billion in Islamic funds.

BNM will conduct three RM1 billion conventional money market tender for seven, 21 and 31 days, respectively and a RM600 million repo tender for 31 days.

The central bank would also conduct three Qard tenders for RM500 million for seven days, RM1 billion for 14 days and RM270 million for 31 days.

At 4pm, BNM will conduct up to RM31.3 billion in conventional overnight tenders and a RM8.2 billion Qard overnight tender. — Bernama