NextGen Day

T-bill interest rates increased on Monday, following the direction of the Bangko Sentral ng Pilipinas’ (BSP) main policy rates.

The 91-day paper’s average rate increased to 2.070%, the 182-day paper to 3.336%, and the 364-day paper to 3.782%.

During the auction on August 15 of last year, these were at 1.874 percent, 3.226 percent, and 3.712 percent for the three-month, six-month, and one-year papers.

All tenors were tendered by the Bureau of the Treasury (BTr) for PHP5 billion apiece, however only the six-month paper received a full award.

The three-month paper received PHP4.3 billion from the auction committee, and the one-year tenor received PHP2.721 billion.

The total amount of bids for the 91-day paper was PHP8.27 billion; for the 182-day paper, PHP15.265 billion; and for the 364-day paper, PHP7.221 billion.

According to National Treasury Rosalia de Leon’s Viber message to journalists, rates increased following a recent 50 basis point increase in policy rates.

Last August 18, the Monetary Board (MB), which sets policy for BSP, increased the key policy rates of the central bank by 50 basis points after seeing that domestic inflation had continued to grow, reaching 6.4 percent in July 2022.

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