MANILA – The rates of treasury bills (T-bills) rose across-the-board Monday but National Treasurer Rosalia de Leon said interest rates remain low amidst the uptick.
The average rate of benchmark 91-day paper rose to 1.015 percent, the 182-day to 1.399 percent, and the 364-day to 1.695 percent.
These were at 1.006 percent, 1.386 percent, and 1.693 percent during the auction last Dec. 1.
The Bureau of the Treasury (BTr) offered the three-month paper for PHP5 billion and the auction committee made a full award. Total tenders reached PHP17.11 billion.
The six-month paper was also offered for PHP5 billion and was fully awarded. Tenders were more than three times at PHP15.583 billion.
The BTr offered the one-year securities for PHP10 billion, and the auction committee also made a full award after bids totaled to PHP42.097 billion.
“Liquidity is very much around and rates remain low as markets see November inflation as one off with recent typhoons,” de Leon said.
The rate of price increases in the 11th month this year posted an uptick to 3.3 percent from the previous month’s 2.5 percent.
Authorities attribute this to the impact of the recent typhoons on some agricultural products.
They believe, however, the full-year rate will remain within the government’s 2-4 percent target.
As of last November, the average inflation rate stood at 2.6 percent. (PNA)
