75 0 0 3 min to read

New increases to BSP term deposit facility rates

Expectations of a further increase in the major policy rates of the central bank this week led to a rise in the rates of the Bangko Sentral ng Pilipinas (BSP) term deposit facility (TDF).

The seven-day facility’s average rate increased slightly from 5.9346 percent to 6.1395 percent during the auction on December 7 of last year.

The 14-day TDF rate increased from 6.0550 percent last week to 6.2471 percent this week.

Even though there were fewer offers this week, both tenors were undersubscribed.

From PHP220 billion last week, the BSP reduced the offer volume for the one-week facility to PHP200 billion.

The auction committee awarded PHP182.794 billion after receiving bids totaling PHP182.994 billion.

The two-week TDF’s volume was also reduced from PHP180 billion last week to PHP160 billion.

The total amount of bids, which the auction committee fully accepted, was PHP158.953 billion.

BSP Deputy Governor Francisco Dakila Jr. has frequently linked the increases in TDF rates to the same trajectory for the key policy rates of the central bank, which is anticipated to be increased once more on Thursday.

This is because inflation is still climbing, with November’s figure jumping to 8%, the highest level since November 2002. The previous month’s rate of price rise was 7.7 percent.

Inflation is expected to reach its high either this month or in January of next year, according to BSP Governor Felipe Medalla.

QR Code

Save/Share this story with QR CODE


Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

πŸ“© Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.


We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❀️GIVE A TIP. Send a small donation thru Paypal😊❀️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) πŸ›’ BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) πŸ‘ Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).


AFFILIATE PARTNERS
LiveGood
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.


0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x