KUALA LUMPUR, Sept 8 — Short-term rates are expected to remain steady today on Bank Negara Malaysia’s intervention to absorb excess liquidity from the financial system.

It estimated today’s liquidity at RM31.50 billion in the conventional system and RM14.02 billion in Islamic funds.

The central bank will conduct three conventional money market tenders of RM1.5 billion for seven days and RM1 billion each for 13 and 21 days, respectively.

It would also call for three Qard tenders comprising RM1.2 billion for seven days, RM1 billion for 13 days and RM1.3 billion for 21 days.

At 4pm, the central bank will conduct up to RM28 billion in conventional overnight tender and a RM9.5 billion Qard overnight tender. — Bernama