Yields on securities offered by the central bank at its weekly anti-inflation operations were mixed on Wednesday after banks swamped the auction amid expectations of declining consumer prices, and thus, possibly declining interest rates as well over the short term.
Data from the Bangko Sentral ng Pilipinas (BSP) showed interest rates across all three tenors of the monetary regulator’s term deposit facility (TDF) moved sideways, thanks to heavy interest from bidding financial institutions.
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The yield on the 7-day facility declined slightly to 5.0706 percent from the previous week’s 5.0784 percent. The central bank offered P20 billion in the auction, but banks put up P35.3 billion in bids. The regulator made a full award of P20 billion.
