Connect with us

Hi, what are you looking for?

Economy

BSP fully awards one-month bills 

The Philippine central bank raised P100 billion on Friday as it fully awarded its short-term securities, with yields rising due to concerns about a looming strict lockdown in the capital region. 

The 28-day securities of the Bangko Sentral ng Pilipinas (BSP) were oversubscribed as it fetched bids worth 117.75 billion. But demand failed to beat the P162.51 billion in tenders at the auction last week. 

Accepted rates were from 1.735% to 1.9279%, wider than 1.745% to 1.7705% last week. This caused the average rate to rise by 1.67 basis points to 1.7769% 

The central bank uses its bills and term deposit facilityto mop up excess liquidity in the financial system and guide market rates.   

The yields increased as investors got worried about the effect of the strict lockdown from Aug. 6 to 20 on the economy, said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. — Luz Wendy T. Noble 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

LONDON — Anyone can be a banker these days, you just need the right code.   Global brands from Mercedes and Amazon to IKEA and...

Economy

AllDay Supermarket has tapped PayMaya to power its self-checkout counters with cutting-edge technology to elevate customers’ grocery shopping experience. A first for the Philippine retail industry, AllDay Supermarket...

Economy

INFLATION in the first eight months stood at 4.4%, quicker than the central bank’s 4.1% average inflation forecast for 2021. — PHILIPPINE STAR/ MICHAEL...

Economy

By Kyle Aristophere T. Atienza, Reporter PHILIPPINE President Rodrigo R. Duterte’s political allies — at least those who are running for the country’s top...

Economy

The Balagtas Station of the Philippine National Railway Clark Phase 1 Project is currently under construction. Photo taken on June 14. — PHILIPPINE STAR/...

Economy

A SENIOR economist at the Asian Development Bank (ADB) said a local bourse’s program for micro, small, and medium enterprises (MSME) is key to...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!