KUALA LUMPUR, Aug 22 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

BNM estimated today’s liquidity at RM37.96 billion in the conventional system and RM14.75 billion in Islamic funds.

The central bank will conduct a range-maturity auction  money market tender valued at RM10 billion for 2-92 days.

It will also call for three Qard tenders comprising RM500 million for seven days, RM1.4 billion for 14 days and RM1.3 billion for 21 days.

At 4pm, BNM will conduct up to RM28 billion in conventional overnight tenders and a RM11.6 billion Qard overnight tender. — Bernama