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 9.56 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 - Philippines Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Philippines Interest Rate - was last refreshed on Tuesday, May 26, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-02-12 08:10 AM 4% 4% 4% 4%
2015-03-26 08:10 AM 4% 4% 4% 4%
2015-05-14 09:20 AM 4% 4% 4% 4%
2015-06-25 08:00 AM 4% 4%
2015-08-13 08:00 AM 4%
2015-09-24 08:00 AM 4%


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.

The overnight lending rate and the 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:

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 likewise left unchanged.

The Monetary Board’s decision is based on its assessment that current monetary policy settings remain appropriate given a manageable inflation environment. 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 given the recent string of inflation outturns. The Monetary Board likewise observed that the risks to the inflation outlook continue to be broadly balanced, with upside risks emanating from pending petitions for adjustments in electricity rates and possible power shortages. Meanwhile, downside risks remain for global growth, even as prospects have become more evenly balanced.

At the same time, the Monetary Board noted that domestic demand conditions remain robust, owing to solid private demand and buoyant business sentiment. In the months ahead, ample domestic liquidity and higher public spending are expected to support domestic economic activity and sustain the economy’s momentum.

Given these considerations, the Monetary Board believes that prevailing monetary policy settings are 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 Ferreira | joana.ferreira@tradingeconomics.com
5/14/2015 12:24:11 PM


Recent Releases

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 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 660634.44 649329.00 740639.00 1918.00 PHP Million [+]
Money Supply M1 2316516.09 2280427.00 2335448.00 14600.00 PHP Million [+]
Money Supply M2 7383209.31 7220677.00 7383209.31 44456.00 PHP Million [+]
Money Supply M3 7689423.10 7530030.00 7689423.10 56544.00 PHP Million [+]
Foreign Exchange Reserves 80798.00 80380.00 85273.60 44.07 USD Million [+]
Banks Balance Sheet 924.20 955.37 955.37 459.52 PHP Billion [+]
Central Bank Balance Sheet 4074.11 4202.09 4202.09 479.78 PHP Billion [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 May/15 2.25 17.50 2.25 percent [+]
Brazil 13.25 Apr/15 12.75 45.00 7.25 percent [+]
Canada 0.75 Apr/15 0.75 16.00 0.25 percent [+]
China 5.10 May/15 5.35 10.98 5.31 percent [+]
Euro Area 0.05 Apr/15 0.05 4.75 0.05 percent [+]
France 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Apr/15 0.05 4.75 0.05 percent [+]
India 7.50 Apr/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 May/15 7.50 12.75 5.75 percent [+]
Italy 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Japan 0.00 May/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Apr/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Russia 12.50 Apr/15 14.00 17.00 5.00 percent [+]
South Korea 1.75 May/15 1.75 5.25 1.75 percent [+]
Spain 0.05 Apr/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Apr/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 May/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 May/15 0.50 17.00 0.50 percent [+]
United States 0.25 Apr/15 0.25 20.00 0.25 percent [+]