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

KUALA LUMPUR, Oct 25 (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$6.89 billion (RM28.79 billion) in the conventional system and RM13.06 billion in Islamic funds. BNM will conduct three conventional money market tenders comprising RM500 million for 31 days and RM1.5 billion for seven days and RM1 billion for 14 days. The central bank will also call for a RM1 billion repo for 31 days and a Qard Islamic range maturity auction tender of RM4.2 billion for seven to 21 days. At 4 pm, it will conduct an up to RM25.0 billion conventional overnight tender and RM8.2 billion overnight Qard. -- BERNAMA