SHORT-TERM RATES TO REMAIN STEADY

KUALA LUMPUR, Nov 6 (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 RM37.42 billion surplus in conventional operations and RM14.69 billion in the Islamic system.

It has called for six conventional money market tenders comprising RM2 billion each for two weeks, 19 days, 32 days, two months and 91 days, respectively, and RM4 billion for 27 days. The bank is also issuing a repo tender to borrow RM500 million for two months and four Al-Wadiah tenders for RM1 billion for one week, RM2 billion for 28 days, RM500 million for two weeks and RM250 million for 20 days.

In addition, it will conduct a Commodity Murabahah Programme money market tender to borrow RM100 million for one month. -- BERNAMA

MAZ TOM