Tuesday 22 January 2019
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inquirer - 8 month ago

Liquid banks swarm BSP, bid up deposit yields

Yields on the central bank s short-term debt instruments spiked higher during the first auction after last week s monetary policy tightening --- an indication that financial institutions expect another rate hike in the future. Amid the higher rates, banks demand for the term deposit facility rose to its higher level in recent weeks, with tenders totaling P129.7 billion for the only P80 billion on offer. The Bangko Sentral ng Pilipinas made full awards on the 7-, 14-,

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