Average rates of treasury bills rose at the auction held Monday, with the dealers of government securities driving up yields after the Bangko Sentral ng Pilipinas decided last week to hit the pause button on monetary policy easing.
Yield on the 91-day treasury bills rose to 5.318 percent to 5.128 percent while the 182-day debt paper increased to 5.662 percent from 5.562 percent. The average rate on the 364-day bill climbed to 5.780 percent from last week’s 5.726 percent.
The Bureau of the Treasury awarded the entire offered amount of P22 billion, with the total tender more than double at P56.28 billion.
BSP Gov. Eli Remolona said the decision to hold off further rate reduction was made as the inflation outlook, although broadly balanced, remains at risk from the utilities sector and the uncertain global economic policies and their potential impact on the economy.
