35-day T-bill rate fell to lowest-ever after hefty BSP easing

35-day T-bill rate fell to lowest-ever after hefty BSP easing

MANILA, Philippines — The Bureau of the Treasury on Tuesday sold P15 billion in 35-day T-bills at 1.684 percent, the lowest-ever rate for the short-dated securities revived at the height of the COVID-19 lockdown. Tuesday’s auction generated P62.5 billion in bids, making it over four times oversubscribed. National Treasurer Rosalia V. de Leon attributed the […]
OFW remittances fell 5% in March

OFW remittances fell 5% in March

Dollars sent home by expatriate Filipinos declined in March, marking the first time that the impact of the coronavirus pandemic was manifested in monthly remittances, a key pillar of the Philippine economy. In a statement, the Bangko Sentral ng Pilipinas attributed...
Factory output fell to 20-year low in April

Factory output fell to 20-year low in April

The volume and value of products churned out by the country’s factories fell to a 20-year low in April amid the enhanced community quarantine (ECQ)—among the most restrictive COVID-19 lockdowns in the region—which put a halt to business activities in areas comprising...