Daily News

Term deposit yields inch higher as BSP halts monetary easing

Yields on term deposits inched up on Wednesday as markets anticipate a pause in the central bank’s monetary easing after successive rate cuts this year. Bids for the Bangko Sentral ng Pilipinas (BSP) or central bank’s term deposit facility (TDF) totalled P160.179 billion, slightly above the P160 billion placed for auction. This also surpassed the P127.606 billion in bids the BSP received last week for the P120 billion on the auction block. Tenders for the seven-day notes hit P48.058 billion, higher than the P40 billion on offer and going beyond last week’s bids. Accepted yields for the tenor ranged from 4.15% to 4.45%, a wider band compared to last week’s 4.125% to 4.225%.