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

The central bank of Philippines left its benchmark overnight borrowing rate on hold at 4 percent for the 12th straight meeting on March 23rd, 2016 as widely expected. Policymakers also kept the short-term special deposit accounts (SDAs) facility rate at 2.5 percent and the overnight repo rate at 6 percent. Interest Rate in Philippines averaged 9.44 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 April of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-17 08:15 AM Interest Rate Decision 4% 4% 4% 4%
2016-02-11 08:13 AM Interest Rate Decision 4% 4% 4% 4%
2016-03-23 06:15 AM Interest Rate Decision 4% 4% 4% 4%
2016-05-12 08:00 AM Interest Rate Decision 4% 4%
2016-06-23 08:10 AM Interest Rate Decision 4%
2016-08-11 08:00 AM Interest Rate Decision 4%

Philippines Holds Key Rate Steady for 12th Month


The central bank of Philippines left its benchmark overnight borrowing rate on hold at 4 percent for the 12th straight meeting on March 23rd, 2016 as widely expected, amid subdued inflation and robust economic growth. Policymakers also kept the short-term special deposit accounts (SDAs) facility rate at 2.5 percent and the overnight repo rate at 6 percent.

The interest rates on term RRPs, RPs and special deposit accounts (SDA) were also kept steady and the reserve requirement ratios were left unchanged.

Statement by the Bangko Sentral NG Pilipinas:

The Monetary Board’s assessment of manageable inflation outlook and robust growth conditions continue to support keeping monetary policy settings unchanged. Latest forecasts indicate that average inflation is likely to settle within the target range of 3.0 percent ± 1 percentage point for 2016-2017, while inflation expectations continue to be firmly anchored within the inflation target band over the policy horizon.  The Monetary Board also noted that the risks surrounding the inflation outlook have remained tilted to the downside, as downward price pressures could arise from slower-than-expected global economic activity and potential second-round effects from lower international oil prices. Meanwhile, upside risks to the inflation outlook persist, particularly those that could emanate from the impact of El Niño dry weather conditions on food prices and utility rates as well as pending petitions for power rate adjustments.

At the same time, the Monetary Board observed that domestic demand conditions continue to be buoyant, supported by solid private household and capital spending, positive business sentiment, and adequate credit and domestic liquidity. The Monetary Board also recognized that uncertainty over economic growth prospects across the globe could continue to drive volatility in global financial markets in the months ahead.

Rida | rida@tradingeconomics.com
3/23/2016 7:45:47 AM

Philippines Money Last Previous Highest Lowest Unit
Interest Rate 4.00 4.00 56.60 3.50 percent [+]
Interbank Rate 2.53 2.53 102.63 2.00 percent [+]
Money Supply M0 766128.04 730757.84 797265.81 1918.00 PHP Million [+]
Money Supply M1 2710546.08 2661126.42 2710546.08 14600.00 PHP Million [+]
Money Supply M2 8206852.40 8103661.57 8206852.40 44456.00 PHP Million [+]
Money Supply M3 8544963.14 8433394.96 8544963.14 56544.00 PHP Million [+]
Foreign Exchange Reserves 82602.01 81877.59 85273.61 44.07 USD Million [+]
Banks Balance Sheet 957.10 948.33 973.07 459.52 PHP Billion [+]
Deposit Interest Rate 1.60 1.66 21.17 1.23 percent [+]
Loans To Banks 179280.00 213489.00 242627.00 132599.00 PHP Million [+]
Loans To Private Sector 4576876.00 4542154.00 4589779.00 3584899.00 PHP Million [+]
Central Bank Balance Sheet 4309.62 4292.99 4309.62 479.78 PHP Billion [+]




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