NextGen Day

On Monday, the country’s Treasury bills (T-bills) rates fell again as domestic inflation slowed.

The 91-day rate fell to 0.875 percent, the 182-day rate to 1.097 percent, and the 364-day rate to 1.415 percent.

During the auction on January 10, these were 0.969 percent, 1.121 percent, and 1.468 percent for three-month, six-month, and one-year papers, respectively.

Across the board, the Bureau of the Treasury (BTr) made full awards of PHP5 billion.

Total tenders for the 91-day T-bill totaled PHP27.499 billion, while the six-month paper received PHP26.376 billion and the one-year paper received PHP23.8 billion.

In a Viber message to journalists, National Treasurer Rosalia de Leon said, “Rates decreased with inflation slowing and heavy bias on short tenors as Fed (Federal Reserve) (is) poised to commence rate liftoff.”

The Fed Fund rate has been fluctuating between zero and 0.25 percent, and it is likely to climb as early as March this year as the rate of price increases in the United States continues to rise.

“More so now in the US with increased inflation,” De Leon said, “the unwinding of cheap monetary policies has been anticipated.”

“(Bangko Sentral ng Pilipinas) Gov(ernor) (Benjamin Diokno) has reassuringly stated that economic recovery will be supported,” she continued.

To aid the Philippine economy’s recovery, Diokno has pledged to retain the BSP’s key policy rates at their present record-low level of 2% for as long as necessary.

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