The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
grocery-2-aa
Economic Updates
Inflation Update: Prices rise even slower in May 
DOWNLOAD
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
grocery-2-aa
Economic Updates
Inflation Update: Prices rise even slower in May 
June 5, 2025 DOWNLOAD
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
May 29, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
View all Reports
BusinessWorld 2 MIN READ

TDF yields dip as inflation falls within forecast

March 7, 2024By BusinessWorld
Related Articles
PEZA seeks reduced tariffs for key ecozone exports to US April 7, 2025 PSEi rebounds before December inflation data January 5, 2024 TDF yields drop on hawkish Fed, BSP bets September 28, 2023

Yields on the Philippine central bank’s term deposits fell on Wednesday, with the seven- and 14-day tenors both oversubscribed as February inflation remained within forecast.

Demand for the term deposit facility (TDF) hit PHP 303.661 billion, higher than the PHP 270 billion on the auction block. Bids last week reached PHP 190.891 billion against a PHP 210-billion offer.

Tenders for the one-week term deposits reached PHP 170.144 billion, more than the PHP 150-billion offer. Last week, bids hit PHP 115.931 billion against a PHP 120-billion offer.

Banks asked for yields ranging from 6.53% to 6.57%, narrower than 6.51% to 6.85% at the Feb. 28 auction. The average rate of the seven-day debt fell by 0.33 basis point (bp) to 6.5617% from last week.    

Meanwhile, the 14-day deposits attracted PHP 133.517 billion in bids, higher than the P120 billion sold by the Bangko Sentral ng Pilipinas (BSP). Last week, tenders hit PHP 74.96 billion against the PHP 90 billion on offer.

Accepted rates for the two-week debt ranged from 6.5745% to 6.6150%, lower than 6.575% to 6.625% last week. This caused the tenor’s average rate to dip by 0.03 bp to 6.5951%.

The BSP has not auctioned off 28-day term deposits for more than three years now to give way to its weekly sale of securities with the same tenor.

The central bank term deposits and 28-day bills are used to mop up excess liquidity in the financial system and to better guide market rates.

Term deposit yields went down as inflation remained within the central bank’s forecast despite picking up in February, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a Viber message.

Inflation quickened to 3.4% last month from 2.8% in January and 8.6% a year ago. It was above the 3% median estimate in a BusinessWorld poll of 16 analysts last week but within the central bank’s 2.8-3.6% forecast.

This was the first time that inflation picked up month on month since September. For the first two months, it averaged 3.1%, within the BSP’s 2-4% annual target. — Aaron Michael C. Sy

This article originally appeared on bworldonline.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up