National Treasurer Rosalia de Leon
MANILA – The rate of the Philippines’ 35-day Treasury bill (T-bill) declined on Tuesday due to strong demand.
The rate of the debt instrument went down to 2.042 percent from 2.714 percent during the auction last April 21.
The Bureau of the Treasury (BTr) offered this for PHP15 billion and made a full award.
Tenders reached PHP73.252 billion thus, the auction committee decided to offer this over the tap facility for PHP15 billion to address the strong appetite.
National Treasurer Rosalia de Leon traced the drop of the debt paper’s interest rate to a lower inflation rate last April.
The government on Tuesday reported that the rate of price increases in the fourth month this year slowed to a five-month low of 2.2 percent from last March’s 2.5 percent.
The slower inflation rate, de Leon said, gives the Bangko Sentral ng Pilipinas additional space “to cut policy rates.” (PNA)
