RATES of government securities on offer this week may climb due to faster inflation in October and hawkish signals from the Bangko Sentral ng Pilipinas (BSP).
RATES of government securities on oation in October and hawkish signals from the Bangko Sentral ng Pilipinas .
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a text message that rates may move higher after headline in“T-bill and T-bond auction yields could go up after the latest signals that local policy rates could go up by 75 bps on the next rate-setting meeting and could match further Federal Reserve rate hikes if inflation remains high,” Mr. Ricafort added.
BSP Governor Felipe M. Medalla on Thursday said the Monetary Board will raise benchmark interest rates by 75 bps at its Nov. 17 meeting to match the Fed as it seeks to stabilize prices. The central bank has raised rates by 225 bps since May.ation, bringing total increases since March to 375 bps. Broken down, the BTr rejected all offers for the 91-day T-bills, even with total bids reaching P8.485 billion, above the P5-billion program. Had the Treasury made a full award, the average rate of the tenor would have gone up by 245 bps to 4.768% from the 2.318% seen on Sept. 5, the last successful award of the tenor.
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