Investors pressed anew for an increase in Philippine benchmark interest rates for short-term loans.
At Monday's auction of Treasury bills on Nov. 22, the bellwether 91-day T-bill rate, which banks use in pricing their loans, rose to 1.178 percent from 1.150 percent previously.
The Bureau of the Treasury sold the P5 billion worth of three-month debt papers on offer. Investors however were asking for P8.782 billion more of the government security or IOU.
The yield on the 182-day T-bill also climbed to 1.443 percent from the previous 1.413 percent as investors were willing to buy P10.86 billion of the six-month IOUs. The government accepted P5 billion as planned.
The interest rates on the 365-day T-bill slight rose to 1.628 percent from the previous 1.621 percent with total tenders for the one-year paper amounting to P14.12 billion, of which the government accepted P5 million.