Short-term Rates to Remain on Central Bank Intervention

KUALA LUMPUR, Jan 4 (Bernama) -- Short-term interbank rates are expected to remain steady Monday on central bank of Malaysia - Bank Negara Malaysia's (BNM) intervention to absorb surplus liquidity from the financial system. BNM estimated Monday's liquidity at RM42.37 billion in the conventional system and RM24.86 billion in Islamic funds. The central bank will conduct a conventional money market tender of RM9 billion for seven days and two reverse repo tenders of RM300 million for 31 days and RM1.2 billion for 45 days. It will also conduct a RM11.2 billion Qard tender for two days to seven days. At 4 pm, BNM will conduct up to RM30 billion in conventional overnight tender and a RM12.3 billion Qard. (US$1=RM4.316) -- BERNAMA