BSP’s 28-day securities rate sustains rise
The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday, which was again traced to the same path as the central bank’s key rates. The average rate of the debt paper increased to 4.0260 percent from 3.9762 percent during the auction last Aug. 19. The BSP lowered the offer volume
By Staff Writer
The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday, which was again traced to the same path as the central bank’s key rates.
The average rate of the debt paper increased to 4.0260 percent from 3.9762 percent during the auction last Aug. 19.
The BSP lowered the offer volume to PHP100 billion from PHP120 billion last week, which BSP Deputy Governor Francisco Dakila Jr. said is “in consideration of the Bureau of the Treasury’s Retail Treasury Bond (RTB) issuance.”
Total bids amounted to PHP147.616 billion. The auction committee made a full award.
Dakila said auction results “reflect the continued adjustment in short-term interest rates following the BSP rate hike.”
“In addition, short-term financial system liquidity is observed to be relatively lower than in previous month,” he said.
He added the central bank’s “monetary operations will continue to be guided by its assessment of the latest liquidity conditions and market developments.” (PNA)
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