Philippines Interest Rate 1985-2014 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Philippines was last recorded at 4 percent. Interest Rate in Philippines averaged 9.68 Percent from 1985 until 2014, 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


Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.00 56.60 3.50 1985 - 2014 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 - Philippines Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Philippines Interest Rate - was last refreshed on Friday, November 28, 2014.


Philippines Leaves Monetary Policy Unchanged


Philippines’ central bank left its key policy rate on hold at 4 percent on October 23rd, following a 25 bps hike in September, saying the inflation rate is expected to be within-target in the near-term.

Statement by the Bangko Sentral NG Pilipinas:

At its meeting today, the Monetary Board decided to maintain the BSP's key policy rates at 4.00 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6.00 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs and special deposit accounts (SDA) were also kept steady. The reserve requirement ratios were left unchanged as well.

The Monetary Board’s decision is based on its assessment of a more manageable inflation environment, based on latest baseline projections indicating within-target inflation for the policy horizon. Latest forecasts show a lower inflation path for 2014-2016, reflecting easing pressures on commodity prices. Inflation expectations have also remained broadly stable and aligned to the inflation target. At the same time, domestic demand conditions continue to be resilient, supported by adequate domestic liquidity and robust bank lending growth.

The Monetary Board noted that the risks to the inflation outlook are broadly balanced, with potential price pressures emanating from pending petitions for adjustments in utility rates and possible power shortages. Meanwhile, global economic prospects are likely to stay uneven, thus mitigating upward pressures from commodity prices going forward.

Given these considerations, the Monetary Board deemed it prudent for the time being to allow previous monetary responses to continue to work their way through the economy. The Monetary Board emphasized that the BSP will remain vigilant against developments that could affect the outlook for inflation and financial stability and is prepared to take appropriate policy action as necessary to safeguard its price and financial stability objectives.

Bangko Sentral NG Pilipinas | Carolina Cunha | carolina.cunha@tradingeconomics.com
10/23/2014 7:42:15 PM


Recent Releases

Philippines Raises Interest Rate to 4%
Philippines’ central bank decided to raise its key policy rate for the second straight time by 25 bps to 4 percent, aiming to curb rising inflation. It is the highest rate in two years. Published on 2014-09-11

Philippines Raises Policy Rate to 3.75%
At its July 30th meeting, Philippines’ central bank raised its key policy rate by 25 basis points to 3.75% to stop price pressures. Published on 2014-07-31


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-07-31 09:00 AM
Interest Rate Decision 
3.75% 3.5% 3.63% 3.5%
2014-09-11 09:30 AM
Interest Rate Decision 
4.0% 3.75% 3.75% 3.5%
2014-10-23 09:00 AM
Interest Rate Decision 
4% 4.0% 4% 4%
2014-12-11 09:00 AM
Interest Rate Decision 
4% 4%


Philippines Money Last Previous Highest Lowest Unit
Interest Rate 4.00 4.00 56.60 3.50 percent [+]
Interbank Rate 2.40 2.30 41.30 2.00 percent [+]
Money Supply M0 587866.06 584109.22 640916.00 1918.00 PHP Million [+]
Money Supply M1 2134642.09 2120900.63 2134642.09 14600.00 PHP Million [+]
Money Supply M2 6945093.39 6886667.82 6945093.39 44456.00 PHP Million [+]
Money Supply M3 7204093.18 7133537.38 7204093.18 56544.00 PHP Million [+]
Foreign Exchange Reserves 79295.85 79556.91 85760.84 44.07 USD Million [+]
Banks Balance Sheet 883.06 857.38 938.47 459.52 PHP Billion [+]
Central Bank Balance Sheet 4074.11 4202.09 4202.09 479.78 PHP Billion [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.50 17.50 2.50 percent [+]
Brazil 11.25 Oct/14 11.00 45.00 7.25 percent [+]
Canada 1.00 Oct/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Nov/14 0.05 4.75 0.05 percent [+]
France 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Nov/14 0.05 4.75 0.05 percent [+]
India 8.00 Oct/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Nov/14 7.50 12.75 5.75 percent [+]
Italy 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Nov/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Oct/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Russia 9.50 Oct/14 8.00 10.50 5.00 percent [+]
South Korea 2.00 Nov/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Switzerland 0.00 Oct/14 0.00 3.50 0.00 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Nov/14 0.50 17.00 0.50 percent [+]
United States 0.25 Oct/14 0.25 20.00 0.25 percent [+]