Philippines Interest Rate 1985-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Philippines was last recorded at 4 percent. Interest Rate in Philippines averaged 9.55 percent from 1985 until 2015, reaching an all time high of 56.60 percent in December of 1990 and a record low of 3.50 percent in September of 2012. Interest Rate in Philippines is reported by the Bangko Sentral ng Pilipinas.

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Philippines Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.00 56.60 3.50 1985 - 2015 percent Daily
In Philippines, interest rate decisions are taken by The Monetary Board of The Bangko Sentral ng Pilipinas (BSP). The official interest rate is the reverse repo rate (RR/P) which is the overnight borrowing rate. The central bank of the Republic of the Philippines is committed to promote and maintain price stability and provide proactive leadership in bringing about a strong financial system conducive to a balanced and sustainable growth of the economy. This page provides the latest reported value for - Philippines Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - Philippines Interest Rate - was last refreshed on Friday, July 31, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-03-26 08:10 AM 4% 4% 4% 4%
2015-05-14 09:20 AM 4% 4% 4% 4%
2015-06-25 09:10 AM 4% 4% 4% 4%
2015-08-13 08:00 AM 4% 4%
2015-09-24 08:00 AM 4%
2015-11-12 08:00 AM 4%


Philippines Keeps Rates Steady


Philippines central bank left its key policy rate unchanged for the sixth consecutive meeting at 4 percent in June of 2015 as widely expected.

The overnight lending rate and the short-term special deposit accounts rate were also kept on hold at 6 percent and 2.5 percent, respectively. 

Statement by the Bangko Sentral NG Pilipinas:

The Monetary Board’s decision is based on its assessment that, on balance, current monetary policy settings remain appropriate given the within-target inflation forecasts and the underlying strength of domestic demand conditions. Latest baseline forecasts continue to indicate that inflation is likely to settle within the lower half of the target range of 3.0 percent ± 1 percentage point for 2015-2016, while inflation expectations remain firmly anchored following recent inflation outturns. The Monetary Board likewise observed that the risks to the inflation outlook continue to be broadly balanced, with upside risks coming from pending petitions for power rate adjustments and the impact of stronger-than-expected El Niño dry weather conditions on food prices and utility rates. On the other hand, slower global economic activity could pose downside risks to inflation.

The Monetary Board noted that domestic demand conditions remain firm despite the lower-than-expected first-quarter output growth, supported by solid private household and capital spending as well as buoyant business confidence. At the same time, ample domestic liquidity and planned higher public spending are expected to further support domestic economic activity and sustain the economy’s momentum in the months ahead.

Given these considerations, the Monetary Board believes that prevailing monetary policy settings remain appropriately calibrated to the outlook for inflation and domestic economic activity. Going forward, the BSP will continue to monitor domestic and external developments to ensure that the monetary policy stance remains in line with maintaining price and financial stability.

Bangko Sentral NG Pilipinas | Joana Taborda | joana.taborda@tradingeconomics.com
6/25/2015 10:30:05 AM


Recent Releases

Philippines Leaves Key Interest Rate Steady at 4%
Philippines’ central bank left its key policy rate unchanged for the fifth consecutive meeting at 4 percent in May, saying that current monetary policy continues to be appropriate as inflation risks remain balanced.
Published on 2015-05-14

Philippines Leaves Monetary Policy Unchanged
Philippines’ central bank kept its key policy rate for the fourth consecutive meeting at 4 percent as expected, saying inflation risks remain balanced and economic growth is expected to remain strong.
Published on 2015-03-26

Philippines Leaves Monetary Policy on Hold
Philippines’ central bank left its key policy rate on hold at 4 percent in February as expected, saying inflation expectations have moderated.
Published on 2015-02-12

Philippines Leaves Interest Rate Steady at 4%
Philippines’ central bank kept its key policy rate at 4 percent in December as expected, saying inflation risks remain balanced. Yet, policymakers cut price forecasts for 2014 to 2016.
Published on 2014-12-11


Philippines Money Last Previous Highest Lowest Unit
Interest Rate 4.00 4.00 56.60 3.50 percent [+]
Interbank Rate 2.52 2.52 41.30 2.00 percent [+]
Money Supply M0 673732.38 677903.00 740639.00 1918.00 PHP Million [+]
Money Supply M1 2360163.98 2343910.00 2360163.98 14600.00 PHP Million [+]
Money Supply M2 7323078.22 7288913.00 7383209.31 44456.00 PHP Million [+]
Money Supply M3 7635231.51 7603300.00 7689423.10 56544.00 PHP Million [+]
Foreign Exchange Reserves 80760.00 80858.84 85273.60 44.07 USD Million [+]
Banks Balance Sheet 882.76 903.69 955.37 459.52 PHP Billion [+]
Central Bank Balance Sheet 4087.47 4049.59 4202.09 479.78 PHP Billion [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jul/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Jul/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jul/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Jul/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jul/15 3.00 9.25 3.00 percent [+]
Russia 11.50 Jun/15 12.50 17.00 5.00 percent [+]
South Korea 1.50 Jul/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jul/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jul/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jul/15 0.25 20.00 0.25 percent [+]