MANILA – The rates of Treasury bills (T-bills) rose on Monday ahead of the announcement of the October 2021 inflation rate.
The average rate of the 91-day paper increased to 1.13 percent, the 182-day to 1.395 percent, and the 364-day to 1.613 percent.
These were at 1.119 percent, 1.387 percent, and 1.606 percent for the three-month, six-month, and one-year papers during the auction last October 25.
The Bureau of the Treasury (BTr) offered all tenors for PHP5 billion each and these were all oversubscribed.
Total bids for the three-month paper amounted to PHP13.081 billion while it reached PHP14.936 billion for the six-month paper and PHP13.76 billion for the one-year paper.
“(Investors are) waiting for (the) Oct(ober) inflation (report) and (the) Fed(eral Reserve) announcement on taper start,” National Treasurer Rosalia de Leon told journalists in a Viber message.
The Philippine Statistics Authority (PSA) is scheduled to report the October 2021 inflation report on November 5.
The rate of price increases decelerated to 4.8 percent last September from the previous month’s 4.9 percent, which is the highest since January 2019.
The average inflation to date stood at 4.5 percent, above the government’s 2 percent to 4-percent target band, which authorities point to as supply side factors. (PNA)
