Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila Jr. (PNA file photo)
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) registered mixed directions on Wednesday but demand remained strong, data from the central bank showed.
The average rate of the seven-day facility slipped to 6.5823 percent from 6.5863 percent during the auction last May 31.
On the other hand, the average rate of the 14-day TDF rose to 6.5927 percent from 6.5852 percent in last week’s auction.
The BSP maintained the offer volume for both tenors at PHP120 billion for the shorter tenor and PHP100 billion for the two-week facility.
Both tenors were fully awarded after bids for the one-week facility reached PHP133.675 billion while it amounted to PHP116.092 billion for the two-week TDF.
In a statement issued Wednesday night, BSP Deputy Governor Francisco Dakila Jr. said the range of yields accepted in this week’s TDF auction narrowed to 6.3750 to 6.6250 percent for the one-week facility, and to 6.3000 to 6.6344 percent for the two-week tenor.
“Moving forward, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he said. (PNA)
