KUALA LUMPUR, July 24 — Short-term rates are expected to stay stable today with Bank Negara Malaysia's (BNM) intervening to absorb excess liquidity from the financial system.

BNM estimated today’s liquidity at RM32.78 billion in the conventional system and RM14.15 billion in Islamic funds.

The central bank will conduct three money market tenders comprising of RM2 billion for seven days, RM1 billion for 14 days and RM1.5 billion for 21 days.

It would also call for Islamic range maturity Qard tender of RM2.8 billion for 8-14 days, a RM700 million commodity Murabahah Programme for seven days and a RM425 million reverse repo tender  for 31 days.

At 4pm, BNM will conduct up to RM28.7 billion in conventional overnight tenders and a RM10.7 billion Qard overnight tender.  — Bernama