2 months TDF rates climb higher this week MB |Biz
By Lee C. Chipongian Yields of the three-tenor term deposit facility (TDF) continue to increase this week on a higher offer volume of P100 billion from the previous P80 billion, based on Bangko Sentral ng Pilipinas (BSP) data. The average rates of the TDF has been increasing in past weeks ahead of the Monetary Board policy meeting on August 8, where market expectations are mixed but majority of analysts expect another rate cut this quarter. Tenders were lower this week at P88.68 billion against offer of P100 billion. In July, the BSP adjusted the volume three times after reducing reserve ... more