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T-bill rates may drop on BSP cut
Business World Philippines
|December 15, 2025
RATES of the Treasury bills (T-bills) on offer this week could end slightly lower after the Bangko Sentral ng Pilipinas (BSP) lowered borrowing costs again and with the US Federal Reserve’s policy path still uncertain.
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The Bureau of the Treasury (BT») will auction off P20 billion in T-bills on Monday, or P6 billion in 91-day securities and P7 billion each in 182and 364-day papers.
T-bill rates could be little changed or slightly lower to track the marginal decline seen in most short-term yields at the secondary market last week after the BSP’s latest easing move, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said ina Viber message.
He said the BSP chief’s “unexpected” hawkish signals immediately after Thursday’s policy decision initially caused local bond yields to rise, but his “more dovish” comments on Friday caused rates to close the week mostly sideways.
This story is from the December 15, 2025 edition of Business World Philippines.
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