MANILA, Philippines — Interest rates on term deposits were mixed yesterday as banks opted for short-term positions pending the results of the rate-setting meetings of the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve. The yield on the seven-day term deposits slipped to 3.1768 percent yesterday from last week’s 3.1893 percent due to strong demand. The accepted yields for the short-term term deposits ranged from 3.125 to 3.2 percent. On the other hand, both the 14- and 28-day term deposits fetched higher rates at the term deposit auction facility. Bids for the seven-day term deposits amounted to P72.29 billion and the BSP auction committee made a full award of P50 billion.

Source: Philippine Star March 21, 2018 15:58 UTC