Treasury bill yields rose across all maturities at Monday’s auction as the Bangko Sentral ng Pilipinas’ recent rate hike pushed borrowing costs higher and investors braced for the possibility of further monetary tightening.
Philippine inflation eased to a five-month low of 6.1 percent in August, offering some relief after prices accelerated sharply earlier this year, but the reading remained elevated enough to underscore the Bangko Sentral ng Pilipinas’ decision to raise interest rates last week.
Treasury bill yields rose across all tenors at Monday’s auction as investors priced in the Bangko Sentral ng Pilipinas’ recent rate hike and the possibility of further monetary tightening.
The Bangko Sentral ng Pilipinas on Thursday delivered a preemptive 25-basis-point rate hike and left the door open to further tightening as stubborn inflationary pressures threaten to keep prices above the central bank’s target range.
Moody’s Ratings affirmed the Philippines’ Baa2 sovereign credit rating on Monday, citing expectations that the government’s fiscal position will stabilize over the next two years despite a sharp slowdown in economic growth.
At least eleven power generation companies have expressed intent to bid for the 900-megawatt supply contract of Manila Electric Company, signaling strong market interest and competitive prospects for the distribution utility’s long-term power requirement.
The Philippines is reaching out to India and other international partners to secure financing for the Mindanao Railway Project, following the withdrawal of earlier financial support from China.
Semirara Mining and Power Corporation has challenged the Department of Energy’s latest bidding rules, warning that the revised guidelines undermine the national government's intent to foster long-term industrial productivity and resource stability.
GoTyme Bank is calling on the government to mandate open finance in the Philippines, arguing that resistance from established lenders is limiting consumers’ control over financial data and restricting access to affordable credit.