Yields on term deposits drop before BSP review - BusinessWorld Online

Yields on term deposits drop before BSP review - BusinessWorld Online

THE BANGKO SENTRAL ng Pilipinas’ (BSP) one-week term deposits fetched lower yields on Wednesday as the offer attracted strong demand on expectations of another rate cut this week. Total bids for the seven-day term deposit facility (TDF) stood at P124.877 billion, exceeding the P90 billion auctioned off by the BSP but below the P132.961 billion in tenders for the P110 billion offered a week ago. This translated to a bid-to-cover ratio of 1.3875 t…