SHORT-TERM RATES TO REMAIN STABLE

KUALA LUMPUR, July 3 (Bernama) -- Short-term rates are expected to remain stable today on continued intervention by Bank Negara to offset liquidity surplus in the financial system, a dealer said. The central bank estimated closing surplus at RM33.509 billion in the conventional system and RM13.746 billion in the Islamic system. It will issue five conventional money market tenders comprising RM2 billion for two weeks and RM4 billion for 28 days. Bank Negara did not call for a Repo tender but to further reduce the surplus, it offered three RM2 billion Al-Wadiah tenders for one week and 31 days and another RM1 billion for three weeks. -- BERNAMA UHS TOM

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