The Bangko Sentral ng Pilipinas (BSP) partially awarded Term Deposit Facilities (TDFs) as investors preferred shorter tenors during the auction on Wednesday.
THE Bangko Sentral ng Pilipinas partially awarded Term Deposit Facilities as investors preferred shorter tenors during the auction on Wednesday.
However, only the 7-day TDF was oversubscribed, with the respective bid-to-cover ratios for the 7-day and 14-day TDF at 1.365x and 0.905x. BSP said, nonetheless, that total tenders received reached P404.159 billion, within the BSP’s expected volume range. “Moving forward, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he added.
The data showed that the weighted average interest rates for the awarded bids in both tenors declined from the previous week.
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