Oliver Bugarin 5 0 0 2 min to read

The BSP 28-day securities rate shows a decrease.

The rate of the Bangko Sentral ng Pilipinas (BSP) 28-day notes decreased for the first time in months amid high investor demand.

According to information issued on Friday, the average rate of the debt paper decreased from 4.0596 percent during the auction on September 2 to 4.0518 percent.

The BSP reduced the offer from PHP100 billion to PHP90 billion, and the auction committee granted the whole amount.

The sum of all offers was PHP160.05 billion.

The yields accepted in the auction “moved upward but narrowed to a range of 3.9200 (percent to) 4.0990 percent,” according to a statement from BSP Deputy Governor Francisco Dakila Jr.

Following the Retail Treasury Bonds settlement, “the outcomes of the BSP bill auction speak to the gradual return to normal liquidity circumstances in the short-term market,” he stated. The BSP’s monetary operations will continue to be determined by its evaluation of the most recent market developments and liquidity conditions going forward.

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