(Bloomberg) -- Philippine bonds gained on speculation the central bank may offer lower interest rates on six-month accounts, encouraging finance companies to invest surplus funds in debt. The peso advanced.
Central bank Governor Amando Tetangco said on April 27 that the deposits for lenders, which will be open to a wider range of institutions from May 10, will earn ``prevailing market rates.'' Philippine six-month notes yielded 3.56 percent on the April 30 auction, compared with 8 percent for the equivalent rate on the central bank deposits.
Read more at Bloomberg Bonds News
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