Daily News

Yields on BSP’s term deposits drop on virus, lower oil prices

Yields on the central bank’s term deposit facility (TDF) declined further amid developments in the coronavirus disease 2019 (COVID-19) outbreak and the recent drop in oil prices. Bids for the term deposits offered by the Bangko Sentral ng Pilipinas (BSP) or central bank amounted to P217.39 billion, beyond the P150 billion auctioned off by the central bank and also higher than the P168.216 billion seen the previous week for the P120-billion offer. Tenders for the seven-day deposits totaled P66.733 billion, surpassing the P50 billion on offer and also beating the P48.697 billion in bids logged on March 4.