SHORT-TERM TO REMAIN STEADY

KUALA LUMPUR, Oct 29 (Bernama) -- Short-term rates are expected to remain steady today with Bank Negara continuing to intervene to offset excess liquidity in the financial system, dealers said.

The central bank estimated a RM29.57 billion surplus in conventional operations and RM4.89 billion in the Islamic system.

It has called for four conventional money market tenders comprising RM2 billion each for one day, two weeks, 20 days and one month respectively.

Bank Negara is also issuing a repo tender to borrow RM500 million for 42 days, and two Al-Wadiah tenders of RM500 million each for one week and three weeks respectively.

In addition, it will conduct a Commodity Murabahah Programme money market tender to borrow RM50 million for 32 days. -- BERNAMA

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