BSP 28-day securities rate sustains rise - TrueID

BSP 28-day securities rate sustains rise

Philippine News AgencySeptember 2, 2022

MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday in line with the rise in domestic interest rates but demand for the debt paper remained.

The average rate of the BSP bills increased to 4.0596 percent from 4.0260 percent during the auction last August 26.

The BSP kept the offer volume at PHP100 billion and the auction committee made a full award. Total bids reached PHP141.45 billion.

In a statement, BSP Deputy Governor Francisco Dakila Jr. said yields accepted in this week’s 28-day securities auction “remained broadly unchanged at a range of 3.8800-4.1000 percent.”

“The results of the BSP bill auction show stable liquidity conditions even as short-term interest rates adjust following the recent BSP policy rate hike as well as expectations of continued tightening from key central banks,” he said.

He added the central bank’s “monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments.” (PNA)

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