Short-Term Rates To Remain Stable On BNM's Intervention

KUALA LUMPUR, Oct 26 (Bernama) -- Short-term rates are expected to remain stable today on Central Bank of Malaysia's (BNM) continuous intervention to absorb excess liquidity from the financial system. The central bank estimated today's liquidity at US$6.98 billion (RM28.98 billion) in the conventional system and RM11.77 billion in Islamic funds. BNM will conduct a RM5.5 billion range maturity auction tender for two to 62 days and a RM1 billion Commodity Murabahah Programme tender for 33 days. The central bank will also call for two Qard tenders comprising RM1 billion for seven days and another RM1.4 billion for 14 days. At 4 pm, it will conduct an up to RM24 billion conventional overnight tender and RM8.4 billion overnight Qard. (US$1 = RM 4.14) -- BERNAMA