Philippines Interest Rate  1985-2016 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Philippines was last recorded at 4 percent. Interest Rate in Philippines averaged 9.47 percent from 1985 until 2016, 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.

Philippines Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.00 56.60 3.50 1985 - 2016 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. Philippines Interest Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-09-24 09:00 AM Interest Rate Decision 4% 4% 4% 4%
2015-11-12 08:00 AM Interest Rate Decision 4% 4% 4% 4%
2015-12-17 08:15 AM Interest Rate Decision 4% 4% 4% 4%
2016-02-11 08:00 AM Interest Rate Decision 4% 4% 4%
2016-03-23 08:10 AM Interest Rate Decision 4% 4%
2016-05-12 08:00 AM Interest Rate Decision 4%

Philippines Leaves Rates on Hold


The central bank of Philippines left its benchmark overnight borrowing rate steady at 4 percent for the tenth consecutive meeting on December 17th, 2015 as widely expected. It also kept the short-term special deposit accounts (SDAs) facility rate at 2.5 percent and the overnight repo rate at 6 percent. Policymakers consider that leaving rates steady at this juncture would give more room to continue to assess global economic conditions and calibrate policy tools as appropriate.

Statement by the Bangko Sentral NG Pilipinas:

The Monetary Board’s decision is based on its assessment of inflation dynamics and the risks to the inflation outlook over the policy horizon. Latest baseline forecasts indicate that average inflation would likely settle below the target range of 3.0 percent ± 1 percentage point for 2015. However, inflation is seen to return gradually to a path consistent with the inflation target for  2016-2017, as the effects of recent weather disturbances continue to be felt. Meanwhile, inflation expectations remain firmly anchored within the inflation target band for 2016 and 2017.  Potential upside pressures could come from the impact of prolonged El Niño dry weather conditions on food prices and utility rates as well as pending petitions for power rate adjustments, while downside risks could arise from possible slower-than-expected global economic activity.

The Monetary Board also observed that domestic demand conditions are likely to stay firm, supported by solid private household and capital spending, buoyant market sentiment, and adequate domestic liquidity. In addition, the Monetary Board has considered the potential impact of the recent monetary policy adjustment in the US on global financial conditions, noting that keeping monetary policy settings steady at this juncture would allow the BSP some room to continue to assess evolving global economic conditions and calibrate its policy tools as appropriate.

With these considerations, the Monetary Board believes that prevailing monetary policy settings are appropriate given 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 price and financial stability.

Bangko Sentral NG Pilipinas | Joana Taborda | joana.taborda@tradingeconomics.com
12/17/2015 9:53:10 AM

Philippines Money Last Previous Highest Lowest Unit
Interest Rate 4.00 4.00 56.60 3.50 percent [+]
Interbank Rate 2.53 2.50 102.63 2.00 percent [+]
Money Supply M0 797265.81 718923.80 797265.81 1918.00 PHP Million [+]
Money Supply M1 2659021.23 2526739.98 2659021.23 14600.00 PHP Million [+]
Money Supply M2 8007955.82 7678059.46 8007955.82 44456.00 PHP Million [+]
Money Supply M3 8340525.74 8003603.15 8340525.74 56544.00 PHP Million [+]
Foreign Exchange Reserves 80158.00 80610.00 85273.61 44.07 USD Million [+]
Banks Balance Sheet 973.07 940.85 973.07 459.52 PHP Billion [+]
Deposit Interest Rate 1.23 1.66 21.17 1.23 percent [+]
Loans To Banks 211271.00 170397.00 242627.00 132599.00 PHP Million [+]
Loans To Private Sector 4589779.00 4399259.00 4589779.00 3584899.00 PHP Million [+]
Central Bank Balance Sheet 4292.99 4307.95 4307.95 479.78 PHP Billion [+]




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