MANILA – Rate of Bangko Sentral ng Pilipinas’ (BSP) 28-day T-bills rose anew on Friday following another 75 basis points in the central bank’s key rates a day ago.
Average rate of the debt securities rose to 5.8005 percent from 5.5930 during the auction last Nov. 11.
BSP kept the offer volume at PHP120 billion and tenders reached PHP132.765 billion. The debt paper was fully awarded.
BSP Deputy Governor Francisco Dakila Jr., in a statement, said yields accepted in this week’s BSP Bills auction “shifted higher and slightly widened to a range of 5.4900-5.9495 percent.”
He said “results of the BSP bill auction reflected the partial pass-through of the 75-bp hike by the BSP.”
“At the same time, the auction results show that liquidity in the financial system remains adequate. Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of the latest liquidity conditions and market developments,” he added. (PNA)