Friday 17 August 2018
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3 months ago

Banks swarm BSP, bid up deposit yields

Yields on the central bank s short term debt instruments spiked 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 in recent weeks, with tenders totaling P129.7 billion for only P80 billion on offer. The Bangko Sentral ng Pilipinas (BSP) made full awards on the 7-, 14- and 28-day instruments, meant to help contain inflation by siphon

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