The central bank on Wednesday raised its volume offer for the term deposit facility (TDF) auction under the Interest Rate Corridor (IRC) in response to good demand.

The increase was for the 28-day tenor. It was hiked to P60 billion from P40 billion. The volume for 7-day tenor remained at P10 million. Thus the total TDF offer set for auction on August 3 is P70 billion. It is the second increase in the TDF volume offer since the program began in June.

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