Gov raises PHP22B through oversubscribed T-bills auction

On Monday, the government successfully raised PHP22 billion through a Treasury bills (T-bills) auction with total tenders reaching PHP85.474 billion, almost four times oversubscribed.

For the 91-day T-bills, the Bureau of the Treasury (BTr) accepted PHP7 billion out of PHP37.48 billion in total bids at a yield of 5.283%, easing from last week's rate of 5.329%.

The BTr also fully awarded PHP7 billion for the 182-day T-bills with an average yield of 5.610%, slightly lower than the previous auction’s 5.672%. For the 364-day T-bills, the BTr raised PHP8 billion at a rate of 5.77%, up from last week's 5.754%.

Analysts expect inflation to slow in February due to declines in rice and other key commodity prices, which is anticipated to influence future monetary policy decisions.