CAUTION marked the term deposit facility (TDF) auction on Wednesday ahead of the US Federal Reserve meeting, as bidders flocked to the seven-day tenor, the central bank reported.
“There was more appetite for the shorter tenor. We see this as being due to seasonality and some market cautiousness ahead of the FOMC meeting this w eek,” BSP Governor Amando Tetangco Jr. told reporters in a text message on Wednesday.
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