SINGLE ON-term deposits will disappear in a fixed question if the central bank places a higher volume on the auction block, again on its offer of & # 39; a month-long tear to a number of weeks.
The Bangko Sentral of Pilipinas (BSP) was offered a total of p42,891 billion under its term deposits (TDF) on Wednesday, ahead of the P40 billion. This was also higher than the last week of books that were P38,540 billion, though against a P30 billion sacrifice.
The central bank received P17.486 billion yesterday in the seven-day paper yesterday when it was signed the P20 billion offer. This was also lower than the P20.53 billion in the last week's tenders.
Accepted requests for the single papers come from 4.453% -4.76% yesterday, slightly lower than the 4.55% -4.76% margin seen on the bidding of & # 39; week. As a result, the average rate was 4.5695%, even down from 4.6925% in the past week.
Tenders for the 14-day papers could also decrease this week per P14.26 billion from P18.01 billion, but still the P10 billion full of the BSP offered to investor.
The recurring bank searches before parking their funds with the BSP flee to a 4.5% -4.75% yesterday yesterday from 4.6% -4.76% the previous week. The average offer at & # 39; a two-week tenure reduced to 4,6013% of & # 39; last week 4.6961%.
Meanwhile, the BSP saw P11.145 billion in offers for its 29-day futures, higher than the P10 billion offer. Yields searched by banks ran at 4.5% -4.75%, so worth an average of 4.6495%.
The central bank repeats its month-long term deposits on the auction block to eight weeks after they do not bid the tenants.
The TDF stands as the primary instrument of central bank to remain in excess of financial system and better levy rates of & # 39; to start a brand.
The GNP's Monetary Board (MB) has thursday Thursday afternoon rates of 25 basis points (bp) in its third year policy update, cities reported to the Philippine Statistics Authority (PSA) that the economy grew to 5.6% – the slowest cliff In four years – last four and two days after the PSA, the attack reached 3% in April – the slowest pace in 16 months.
The decision of MB's, which it said, was due to an "administration" information for the Inflation, bringing the stakeholders back to the BSP's overnight stay back to 4.5 % effective last Friday. The rates at the overnight and deposit rates are also expected to be 5% and 4% respectively.
Partially, the cumulative 175 bps were reintroduced into the weeks by the BSP by fifth meetings last year when it sought to clean up inoculation, causing a peak of 6.7% in September and October.
After its completion, the BSP has also reduced the 2019 intelligence forecast to 2.9% from 3% in the previous session, but the coming years of & # 39; The expenditure has lifted 3% from 3%. Inflation is on average 3.6% in the first four months.
The BSP governor Benjamin E. Diokno said that a potential turn into a reserve of large reserves (RRR), currently at 18%, will be at & # 39; be a table at the meeting of MB's this week.
The central bank has said that reducing banks & # 39; RRR by 100 bps will release about P90 billion in liquidity in the financial system.