BAGANBAZAR GRAPHEXPLORE · ANALYZE · GROW
Theme
LiveDesk
BusinessTerm deposit yield edges up as market prices in rate hike viewSportsEngland women to host Ukraine at Wembley in World Cup playoff deciderSportsFulham's Arbeloa fined over comments implying bias after Man United drawSportsCoe says Kenya doping fight improving ahead of 2029 World ChampionshipsSportsITIA notified of former world number six Monfils retirement
Business/Source-attributed reporting
Business DESK

Term deposit yield edges up as market prices in rate hike view

THE AVERAGE YIELD on the Bangko Sentral ng Pilipinas’ (BSP) term deposits inched up on Wednesday despite strong demand as the market anticipates another policy rate hike next week. The central bank’s term deposit facility (TDF) drew a total of P116.441 billion in bids for the seven-day papers on Wednesday, exceeding the P100 billion placed on the auction block and the P113.386 billion in bids for the same offer volume last week. This translated to a slightly higher bid-to-cover ratio of 1.1644 times from 1.1339 previously. As a result, the central bank awarded its entire P100-billion offer. Accepted yields for the one-week deposits ranged from 4.98% to 5.03%, a tad narrower than the 4.975% to 5.03% a week ago. With this, the weighted average accepted rate inched up by 0.33 basis point (bp) to 5.0061% from 5.0028% in the previous auction. TDF yields went up as the market priced in a fourth consecutive tightening move at the BSP’s upcoming policy review next week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. “The seven-day BSP TDF average auction yield was marginally higher… ahead of the next BSP rate-setting meeting on Oct. 22, 2026, when there could be another 25-bp BSP rate hike,” he said in a Viber message. A fourth straight rate hike, according to Mr. Ricafort, will allow the central bank to contain inflation risks, support the weak peso, and maintain a healthy interest rate differential with the US Federal Reserve. The BSP’s policymaking Monetary Board will meet on Oct. 22, where economists and market analysts expect them to raise their benchmark rate anew. Since it began tightening in April, the Philippine central bank has delivered a total of 75 bps in hikes to bring its key policy rate to an over one-year high of 5%. BSP Governor Eli M

Published Oct 14, 2026 · 7:30 AMOriginal source: BusinessWorld1 reads
THE AVERAGE YIELD on the Bangko Sentral ng Pilipinas’ (BSP) term deposits inched up on Wednesday despite strong demand as the market anticipates another policy rate hike next week. The central bank’s term deposit facility (TDF) drew a total of P116.441 billion in bids for the seven-day papers on Wednesday, exceeding the P100 billion placed on the auction block and the P113.386 billion in bids for the same offer volume last week. This translated to a slightly higher bid-to-cover ratio of 1.1644 times from 1.1339 previously. As a result, the central bank awarded its entire P100-billion offer. Accepted yields for the one-week deposits ranged from 4.98% to 5.03%, a tad narrower than the 4.975% to 5.03% a week ago. With this, the weighted average accepted rate inched up by 0.33 basis point (bp) to 5.0061% from 5.0028% in the previous auction. TDF yields went up as the market priced in a fourth consecutive tightening move at the BSP’s upcoming policy review next week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. “The seven-day BSP TDF average auction yield was marginally higher… ahead of the next BSP rate-setting meeting on Oct. 22, 2026, when there could be another 25-bp BSP rate hike,” he said in a Viber message. A fourth straight rate hike, according to Mr. Ricafort, will allow the central bank to contain inflation risks, support the weak peso, and maintain a healthy interest rate differential with the US Federal Reserve. The BSP’s policymaking Monetary Board will meet on Oct. 22, where economists and market analysts expect them to raise their benchmark rate anew. Since it began tightening in April, the Philippine central bank has delivered a total of 75 bps in hikes to bring its key policy rate to an over one-year high of 5%. BSP Governor Eli M. Remolona, Jr. has left the door open to further hikes following their August meeting, noting that they could keep tightening as needed to steer inflation closer to their 3% target. Inflation has been above its goal for seven consecutive months, accelerating to its fastest pace in three-and-a-half years of 7.2% in September. The headline print stands at a year-to-date average of 5.4%. The central bank uses the TDF and BSP bills to mop up excess liquidity in the financial system and better guide market yields towards its policy rate. It earlier said that it limited its TDF offerings to a single tenor to rationalize its liquidity operations and focus on tenors that would boost monetary policy transmission. As of mid-August, the BSP’s market operations have absorbed P975.4 billion in excess liquidity from the market, with 12.3% of this being siphoned off via the term deposit facility. The central bank said interest rates on its seven-day TDF already fully reflect the two 25-bp policy rate hikes it delivered in April and June, which raised the benchmark rate to 4.75%. — Katherine K. Chan
ORIGINAL SOURCE

BusinessWorld

This report is indexed by BAGANBAZAR GRAPH with its original publisher named and linked for readers.

Read at original outlet ↗
RELATED COVERAGE

More from this desk.

BAGANBAZAR GRAPHSource-attributed newsBUSINESS desk
Business

Hundreds queue in Hong Kong to glimpse Van Gogh painting unseen in public for 60 years

HONG KONG — Hundreds of people queued in Hong Kong on Tuesday to view a Vincent van Gogh painting never publicly exhibited in more than six decades, ahead of a Sotheby’s auction in New York where it is expected to fetch about $180 million. The Nov. 18 auction will test the strength of the high-end art market, in which collectors have continued to compete for scarce trophy works, undeterred by broader economic uncertainty. Painted in May 1890, Châtaigniers en fleurs, or Chestnut Trees in Blossom, is one of the most important works from the Dutch artist’s final days in the French village of Auvers-sur-Oise, where he died about two months later, aged 37. The painting is poised to set a new auction record for a Van Gogh work, said Scott Niichel, of Sotheby’s modern and contemporary art department in New York. “This is a moment of extraordinary optimism, frenetic energy, enthusiasm, passion, and color in the artist’s body of work,” he said. Paintings from Van Gogh’s final Auvers-sur-Oise period, just after his release from a psychiatric asylum in Saint-Remy-de-Provence, rarely come to market and the auction will draw the attention of collectors, museums, and investors. “I’d never heard of this painting before, so I wanted to see it with my own eyes,” said Li Shanshan, a 50-year-old art lover who traveled about 2-1/2 hours from the southern city of Shenzhen to view the artwork. The painting, which depicts a massive blossoming chestnut tree with a flowering canopy that dominates the composition, will be sold among part of a collection of 12 long-unseen works, including items by Paul Cezanne and Claude Monet. Five unveiled at Sotheby’s in London in late September included Cézanne’s Arlequin and Monet’s Le Jardin des Tuileries. After Van Gogh’s death in July 1890, Châtaigniers e

Original sourceBusinessWorld
BAGANBAZAR GRAPHSource-attributed newsBUSINESS desk
Business

Tuscan winemaker Antinori sees red after $6-million theft

ROME — Thieves stole around 30,000 bottles of premium wine worth about €5 million ($5.8 million) from a Marchesi Antinori warehouse in Tuscany, Italy’s largest family-run winemaker said on Friday. Antinori, which dates back to 1385 and now exports to 170 countries, has alerted customers worldwide to be wary of offers outside official sales channels following last weekend’s heist and is still hopeful of recovering the stolen wine. It said the thieves took 8,000 to 10,000 bottles of Solaia, one of Italy’s most sought-after labels, as well as Tignanello and Guado al Tasso. The wines retail from €150, but some of the rarest vintages can fetch thousands of euros per bottle. The theft is the latest in a series in Italy, following another in July at the renowned Banfi winery in Montalcino. While such crimes have traditionally involved smaller quantities or a handful of high-value bottles, from restaurants, private cellars, or during distribution, recent cases have involved larger stocks held at wineries. Florence-based Antinori said surveillance camera footage showed seven masked men entering its storage facility in Cortona last weekend and disabling its alarm systems before loading thousands of cases of the Tuscan red wines onto two trucks. Antinori said the timing and execution of the theft, which was discovered on Monday morning when staff arrived at the warehouse and is now being investigated by Italian police, suggested a highly organized group was involved. The operation was facilitated by the fact that the wines had been prepared for a shipment to foreign distributors, allowing the thieves to remove a large quantity of high-value bottles quickly, a representative for Antinori told Reuters. — Reuters

Original sourceBusinessWorld
BAGANBAZAR GRAPHSource-attributed newsBUSINESS desk
Business

Peso extends slide before US consumer inflation data

THE PESO sank further against the dollar on Wednesday, inching close to its record low, on expectations of faster US consumer inflation and amid fresh hostilities in the Middle East. The currency shed seven centavos to end at P62.87 versus the greenback from its P62.80 finish on Tuesday, Bankers Association of the Philippines data showed. The local unit opened the session stronger at P62.70 per dollar and climbed to an intraday high of P62.65. Meanwhile, its weakest showing was at P62.88, near its all-time-low finish of P62.90 recorded on Oct. 8. Dollars traded declined to $941 million from $1.022 billion. “The dollar-peso traded higher on expectations of a higher US inflation release tonight,” a trader said by phone. The peso was also dragged by rising global crude oil prices following renewed tensions in the Strait of Hormuz, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message. For Thursday, the trader said the peso could test the P63 level if the US consumer price index (CPI) comes out higher than market expectations, likely ranging from P62.65 to P63, while Mr. Ricafort expects it to move between P62.75 and P62.95. The dollar index, which measures the greenback against a basket of currencies, fell 0.09% to 102.09, following a 0.35% slide on Tuesday, Reuters reported. Attention now focuses on the release of US consumer price index data as well as speeches from Federal Reserve policymakers that could clarify the outlook for interest rates. The US Labor department is due to release its CPI for September, which is expected to have risen 0.6% month-on-month after increasing 0.4% in August, while annual inflation is seen accelerating to 3.6% from 3.4%. Additionally, the Fed is due to publish its Beige Book. Meanwhile, oil prices rose

Original sourceBusinessWorld