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TDF yields drop as market expects more BSP cuts
Business World Philippines
|May 22, 2025
TERM DEPOSIT YIELDS continued to go down on Wednesday on strong demand as investors sought to lock in still-high rates, with the Bangko Sentral ng Pilipinas (BSP) likely to ease its monetary policy stance further in the coming months.
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The central bank’s term deposit facility (TDF) fetched bids amounting to P141.459 billion on Wednesday, well above the P100-billion offering and P106.524 billion in tenders for the P90-billion volume auctioned off a week ago. This allowed the BSP to fully award its offer.
Broken down, tenders for the seven-day papers reached P82.205 billion, higher than the P50 billion auctioned off by the central bank and the P46.254 billion in bids for the same volume offered the previous week. The BSP awarded P50 billion in one-week papers as planned.
Banks asked for yields ranging from 5.5% to 5.355%, narrower than the 5.5% to 5.56% band seen a week earlier. This caused the average rate of the one-week deposits to drop by 1.18 basis points (bps) to 5.5248% from 5.5366% previously.
Diese Geschichte stammt aus der May 22, 2025-Ausgabe von Business World Philippines.
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