RATE UPTICK. The rates of Treasury bills (T-bills) increase on Monday (Aug. 22, 2022), which National Treasurer Rosalia de Leon traces to the latest policy rate hike decision of the Bangko Sentral ng Pilipinas (BSP). Monetary authorities increased the BSP's key rates on projections to address the elevated inflation rate, which is seen to peak either in October or November this year. (Photo courtesy of BTr)
MANILA – The rates of Treasury bills (T-bills) rose on Monday, mirroring the path of the Bangko Sentral ng Pilipinas’ (BSP) key policy rates.
The average rate of the 91-day paper rose to 2.070 percent, the 182-day to 3.336 percent, and the 364-day to 3.782 percent.
These were at 1.874 percent, 3.226 percent, and 3.712 percent for the three-month, six-month, and one-year papers during the auction last August 15.
The Bureau of the Treasury (BTr) offered all tenors for PHP5 billion each but only the six-month paper was fully awarded.
The auction committee awarded PHP4.3 billion for the three-month paper and PHP2.721 billion for the one-year tenor.
Total bids for the 91-day paper reached PHP8.27 billion while it amounted to PHP15.265 billion for the 182-day paper and PHP7.221 billion for the 364-day paper.
“Rates rose following recent 50 bps hike in policy rates,” National Treasury Rosalia de Leon told journalists in a Viber message.
BSP’s policy-making Monetary Board (MB) hiked by 50 basis points the central bank’s key policy rates last August 18, after noting the continued rise of domestic inflation rate, with the July 2022 figure rising to 6.4 percent. (PNA)
