NextGen Day

On Wednesday, the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP), which is raising its policy rates, recorded another rate increase.

The seven-day facility’s average rate rose to 3.8051 percent, and the 14-day facility’s to 3.8454 percent.

During the auction last August 25, they were at 3.7876 percent for the one-week facility and 3.8099 percent for the two-week tenor.

Both tenors’ offer volumes were increased by the BSP, and both were oversubscribed.

From PHP120 billion last week, it boosted the offer volume for the one-week facility to PHP140 billion.

After bids reached PHP195.304 billion, this was totally awarded.

The offer volume for the 14-day TDF was raised from PHP80 billion in the prior auction to PHP100 billion.

Additionally, this tenor received a complete grant after bids totaling PHP122.3 billion.

The overall number of tenders submitted during this week’s TDF auction, according to a statement from BSP Deputy Governor Francisco Dakila Jr., is “near the upper end of the BSP’s expected volume range.”

According to the TDF auction results, market participants preferred the shorter tenor more, he said.

The 50 basis point hike in the BSP’s benchmark rates on August 18 and the “US Federal Reserve’s continuing interest rate increases to bring inflation under control,” he said, were to blame for the rate increase.

He continued, “For its part, the BSP’s monetary operations will continue to be guided by its assessment of the most recent market developments and liquidity conditions.”

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.

📩 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.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

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.

---