KUALA LUMPUR, Dec 19 — 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 RM37.56 billion in the conventional system and RM12.92 billion in Islamic funds.

It will conduct three conventional money market tenders, comprising two RM3 billion tenders, each for seven days and 14 days, as well as a RM2 billion tender for 21 days.

The central bank will also call for Qard tenders valued at RM1.2 billion for seven days and RM1 billion tender for 21 days, as well as one reverse repo tender worth RM330 million for 16 days.

At 4pm, BNM will conduct up to RM29.9 billion in conventional overnight tenders and a RM10.7 billion overnight Qard tender. — Bernama