KUALA LUMPUR, May 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 RM34.54 billion in the conventional system and RM12.45 billion in Islamic funds.

BNM will conduct three conventional money market tenders, comprising RM1 billion each for seven, 14 and 21 days, respectively, as well as, a RM450 million repo tender for 31 days.

The central bank will also call for three Qard tenders, involving RM1.3 billion for seven days, RM2.7 billion for 14 days and RM600 million for 21 days.

At 4pm, BNM will conduct up to RM31.1 billion in conventional overnight tenders and a RM7.9 billion Qard overnight tender. — Bernama