Short -term rates are projected to remain stable following BNM's operations

SHORT -TERM RATES are expected to remain stable on Thursday following Bank Negara Malaysia's (BNM) operations to absorb excess liquidity from the financial system.

Liquidity is estimated at RM32.20 billion in the conventional system while Islamic funds are worth RM26.17 billion.

The central bank will offer two conventional money market tenders of RM500 million each for seven days and 14 days and an Islamic maturity range auction tender of RM6 billion for seven days to 32 days.

At 4pm, BNM will conduct a conventional yesterday tender of up to RM30.2 billion and a Murabahah overnight tender of RM19.0 billion. -Bernama