Term deposit rates ease further Lawrence Agcaoili (The Philippine Star) - October 10, 2019 - 12:00am MANILA, Philippines — The yields of term deposit rates further dropped across the board as banks continued to swarm the liquidity absorption facility of the Bangko Sentral ng Pilipinas (BSP) after a series of interest rate cuts. The seven-day tenor fetched 4.2348 percent, or 1.53 basis points lower than last week’s 4.2501 percent, while the yield of the 14-day term deposits slipped 0.62 basis point to 4.2485 percent from 4.2547 percent. Likewise, the 28-day term deposit rates averaged 4.2754 percent, or 2.85 basis points lower than last week’s 4.3039 percent. BSP Deputy Governor Francisco Dakila Jr. said the yields of term deposits continued to decline following the decision of the central bank to deliver its third rate cut for this year amid easing inflation. The BSP has so far reduced benchmark rates by 75 … [Read more...] about Term deposit rates ease further
Term deposit rates rise anew Lawrence Agcaoili (The Philippine Star) - July 25, 2019 - 12:00am MANILA, Philippines — Yields of term deposits rose across the board anew on Wednesday as overall liquidity conditions remain adequate to support the country’s economic growth requirements. The Bangko Sentral ng Pilipinas (BSP) yesterday said the seven-day term deposit rate inched up slightly to 4.5679 percent from last week’s 4.5640 percent, while the yield of the 14-day tenor climbed 1.29 basis points to 4.6277 percent from 4.6148 percent. Likewise, the yield of the 29-day tenor increased slightly to 4.6495 percent from 4.6492 percent last week. However, the term deposit auction facility (TDF) was undersubscribed as bids only reached P66.22 billion versus the P80-billion offering. Bids for the seven-day term deposits amounted to P27.75 billion versus the issue size of P30 billion, while tenders for the 14-day tenor … [Read more...] about Term deposit rates rise anew
FRANKFURT AM MAIN: European Central Bank chief Mario Draghi sparked anger from US President Donald Trump on Tuesday, when his hint at future interest rate cuts lifted eurozone markets and pushed the euro down against the dollar. “Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA,“ Trump said via Twitter. “They have been getting away with this for years, along with China and others,“ he added. Hours earlier, Draghi had told a conference in Sintra, Portugal that “further cuts in policy interest rates ... remain part of our tools” as the bank looks to juice growth and inflation. Eurozone policymakers had already discussed potential rate cuts at a regular meeting of the ECB’s governing council in early June, but Draghi’s Tuesday remarks were the first to catch markets’ attention. They sent Germany’s DAX index of … [Read more...] about Trump cries currency manipulation over ECB talk of rate cuts
PETALING JAYA: Fixed deposit (FD) is low risk and great to invest in, but is it a less attractive investment avenue now due to the lower interest rate environment? Following the cut in Bank Negara Malaysia’s Overnight Policy Rate (OPR) to 3% last month, banks have lowered their base rates and base lending rates, translating into lower cost of borrowing, but also a decrease in fixed deposit and saving account interest rates. HLIB Research analyst Chan Jit Hoong opined that FD is not necessarily less attractive now given the lack of good alternatives in the market. “For example, equities are going through a rough patch now, so generating capital returns would be rather difficult. For those who want assurance in returns, they would still stick with FD. That said, for the take-up rate of FD, we are already observing some tapering effect from the recent Bank Negara Malaysia (BNM) statistics – probably due to high base effect,” he told SunBiz. For example, RHB Bank … [Read more...] about Fixed deposit – still an attractive investment?
PETALING JAYA: Effective tomorrow, Maybank will revise its base rate (BR) and base lending rate (BLR) downwards in line with Bank Negara Malaysia’s Overnight Policy Rate (OPR) reduction. In a statement released today, the bank said its BR will be lowered by 20 basis points from 3.25% to 3.05% while its BLR will be revised from 6.9% to 6.7%. Similarly, the Islamic BR and base financing rate will be reduced by 20 basis points from 3.25% to 3.05% and from 6.9% to 6.7% respectively. In addition, Maybank’s fixed deposit rates will also be adjusted downwards by 20 basis points. Group president and CEO Datuk Abdul Farid Alias said the bank had been offering the lowest BR and BLR among commercial banks in the country for some time now at 3.25% and 6.9% respectively. “Our revision in rates will continue to benefit our borrowers who have loans pegged to the BR/BLR as their applicable interest rates will be adjusted downwards accordingly from May 9.” “At the same … [Read more...] about Maybank first bank to lower lending, fixed deposit rates