KUALA LUMPUR, Dec 18 — Short-term rates are expected to remain stable today with Bank Negara Malaysia (BNM) intervening to absorb excess liquidity from the financial system.

BNM estimated today’s liquidity at RM33.93 billion in the conventional system and RM10.80 billion in Islamic funds.

It will conduct three conventional money market tenders, comprising two of RM3 billion tenders, each for eight days and 15 days, respectively and BNM would also call for RM2 billion tender for 21 days.

The central bank will also call for Islamic Range Maturity Auction valued at RM3.3 billion for eight to 31 days as well as reverse repo tender of RM650 million for 31 days. 

At 4 pm, BNM will conduct up to RM26.6 billion in conventional overnight tenders and a RM7.5 billion overnight Qard tender. — Bernama