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Term deposits fetch lower yields on inflation, BSP easing bets
Business World Philippines
|December 04, 2025
THE BANGKO SENTRAL ng Pilipinas’ (BSP) seven-day term deposits fetched a lower average rate on Wednesday on strong demand and expectations of benign November inflation that would lead to further monetary easing.
The central bank’s term deposit facility (TDF) attracted bids amounting to P135.643 billion, above the P80-billion offer and the P128.312 billion in tenders for the same offer volume in the previous auction. The BSP made a full award of its offer.
Accepted yields for the seven-day tenor were from 4.6% to 4.7408%, narrower than the 4.6% to 4.7497% seen last week. This caused the average rate of the one-week deposits to slip by 0.94 basis point (bp) to 4.728% from 4.7374%.
Wednesday marked the fifth week in a row that the central bank did not offer the 14-day tenor at its TDF auction.
Also, it has not auctioned off 28-day term deposits since October 2020 to give way to its weekly offerings of securities with the same tenor.
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