KUALA LUMPUR, Nov 18 — Short-term rates are expected to remain stable next week with Bank Negara Malaysia likely to intervene by offering tenders to absorb surplus liquidity from the system.

For the week just-ended, the overnight rate was quoted at 2.97 per cent, while the one-, two— and three-week rates stood at 3.02 per cent, 3.06 per cent and 3.11 per cent, respectively.

The central bank intervened on a daily basis to mop up excess liquidity by conducting conventional money market tenders, Qard tenders and range-maturity auction money market tenders.

The total liquidity surplus in the conventional system for the week just-ended narrowed to RM25.95 billion from RM29.02 billion last week. In the Islamic system, it rose to RM10.3 billion from RM8.06 billion previously.

The benchmark three-month interbank rate stood at 3.43 per cent.  — Bernama