Bureau of Treasury raises PHP30.8 billion from T-bills auction, exceeding PHP22-billion offering

The Bureau of the Treasury raised PHP30.8 billion from a Treasury bills auction on Monday, exceeding the PHP22-billion offering.

Total bids for the auction were robust, with demand outstripping supply across all tenors, leading to average rates that were lower than secondary market yields.

Philippine headline inflation slowed to 2.1% in February, providing room for another rate cut by the BSP as early as next month, according to Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.

The Monetary Board will meet on April 3 to discuss policy, with analysts expecting a possible reduction in borrowing costs following the unexpected pause last month.