MANILA -- The central bank’s term deposit facility (TDF) rates rose across all tenors this week, but bids fell short of Bangko Sentral ng Pilipinas’ (BSP) PHP70-billion offering.
Average rate for seven-day TDF settled at 5.1462 percent during Wednesday’s auction, from 5.1135-percent yield last week.
The seven-day TDF was offered at PHP40 billion, however, tenders only reached PHP37.24 billion.
For 14-day TDF offered at PHP20 billion, average yield likewise increased to 5.2188 percent from 5.1649 percent in last week’s auction. Tenders for this facility amounted to PHP14.62 billion.
Yield for 28-day TDF rose to 5.2092 percent from previous week’s rate of 5.192 percent.
BSP offered the long-term TDF at PHP10 billion, but only got PHP6.63 billion worth of bids.
For next week, the central bank cuts TDF offering to PHP50 billion -- PHP30 billion for seven-day facility, PHP10 billion for 14-day facility, and PHP10 billion for 28-day facility. (PNA)
