BW FILE PHOTO
Total bids for the central bank’s term deposit facility reached P324.786 billion, above the P280 billion on the auction block, but lower than the P431.937 billion in tenders for a P330-billion o“The BSP lowered the volume offering for the TDF auction to P280 billion ,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement on Wednesday.er volume was reallocated between the 7-day and 14-day tenors at P150 billion and P130 billion , respectively.
Meanwhile, demand for the 14-day term deposits amounted to P164.959 billion, higher than the P130 billion on the auction block as well as the P122.395 billion in tenders for a P140-billion oAccepted yields were from 6.25% to 6.4944%, slightly wider than the 6.2508% to 6.48% band logged the previous week. This brought the average rate of the two-week deposit to 6.418%, up by 3.78 bps from the 6.3802% logged a week ago.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message that TDF yields were higher again this week following the BSP’s decision to hike borrowing costs anew and signals of further increases this year.