The Bureau of the Treasury (BTr) sold P13.16 billion out of its P15-billion offering of Treasury bills (T-bills) on Monday as investors sought higher yields across all tenors.
THE Bureau of the Treasury sold P13.16 billion out of its P15-billion offering of Treasury bills on Monday as investors sought higher yields across all tenors.
Meanwhile, the 182-day and 364-day securities fetched average rates of 2.907 percent and 2.981 percent, respectively. The former jumped by 51bps while the latter soared by 28.8bps than the benchmark BVAL rates of 2.397 percent and 2.693 percent, respectively. In a bid to tame soaring inflation, the BSP has so far raised the interest rates by a total of 50bps this year: 25 each in its May 19 and June 23 policy meetings. These hikes have brought the policy rate to 2.5 percent.
The government’s economic team under the Marcos administration is now expecting inflation to remain “elevated” in the coming months as fuel and food prices continue to escalate.
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