E Leon Attributed The Large Bids For Thet Bills To Market 39s Taking Position On Front End Quot With Faster Inflation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MANILA - National Treasurer Rosalia de Leon said Monday Treasury bill (T-bill) rates posted mixed results on expectations for rate hikes both here and in the United States due to the accelerating inflation rate. The average rate of the 91-day paper declined to 1.380 percent from 1.587 percent during the auction last March 28. On the other hand, the rate of the 182-day T-bill rose to 1.781 percent and the 364-day to 1.883 percent. These were at 1.856 percent and 2.137 percent during the auction last week. The Bureau of the Treasury (BTr) offered all the tenors for PHP5 billion and all were oversubscribed by at least twice the offer volume. The auction committee made full awards across the board. Total tenders for the three-month paper amounted to PHP29.35 billion while it reached PHP14.17 billion for the six-month paper and PHP11.072 billion for the 364-day tenor. In a Viber message to journalists, de Leon attributed the large bids for the T-bills to the market's taking position on

United statesBureau of the treasury btrTreasurer rosalia de leonMonday treasuryMonetary boardManila national treasurer rosalia de leon said monday treasury billt bill rates posted mixed results on expectations for rate hikes both here and in the united states due to accelerating inflation average of 91 day paper declined 1 380 percent from 587 during auction last march 28 other handHe rate of the 182 dayt bill rose to 1 781 percent and 364 day 883 these were at 856 2 137 during auction last week bureau treasury btr offered all tenors for php5 billion oversubscribed by least twice offer volume committee made full awards across board total tenders three month paper amounted php29 35 while it reached php14 17 six php11 072 tenor ina viber message journalistsE leon attributed the large bids for thet bills to market 39s taking position on front end quot with faster inflationXpected surge on fed rate and possible action from bsp in the second half quot continued upward movements 182 364 day given higher inflation forecast this year as start ed hiking policy ratesUot she added the bsp 39s policy making monetary board mb recently hiked central bank average inflation forecast for this year to 4 3 percentIgher than the government 39s 2 4 percent target bandNd the 2023 projection to 3 6 percent due upticks of oil prices in international market these were at 7 and for 2022Uring the board 39s rate setting meeting last february similarlyHe fed hiked its key rates by 25 basis points to between 0 50 percent last month as the consumer price index cpi in us registered four decade high since january authorities hinted at more upward rate adjustments for rest of year pna