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 9.68 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.

      Forecast    
Philippines Interest Rate


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 Thursday, March 5, 2015.


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.

Statement by the Bangko Sentral NG Pilipinas:

At its meeting today, the Monetary Board decided to maintain the BSP's key policy rates at 4.0 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6.0 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 that prevailing monetary policy settings remain appropriate. Latest baseline forecasts show a lower inflation path within the target range of 3.0 percent ± 1 percentage point for both 2015 and 2016, while inflation expectations remain firmly anchored. Inflation pressures have moderated further since the previous monetary policy meeting, reflecting mainly the significant decline in international oil prices. At the same time, the Monetary Board observed that prospects for domestic activity continue to be firm, and positive growth dynamics are expected to be supported by buoyant private demand, sustained bank lending growth, and upbeat business sentiment.

The Monetary Board also noted that the risks to the baseline inflation forecast remain broadly balanced, with potential price pressures emanating from pending petitions for adjustments in utility rates and possible power shortages. Meanwhile, downside risks could arise from possible slower-than-expected global economic activity.

Given these considerations, the Monetary Board is of the view that the within-target inflation outlook and robust domestic growth support keeping policy settings steady. Going forward, the BSP will continue to monitor developments affecting the inflation outlook to ensure that the monetary policy stance remains consistent with its price and financial stability objectives. 

Bangko Sentral NG Pilipinas | Joana Taborda | joana.taborda@tradingeconomics.com
2/12/2015 9:13:35 AM


Recent Releases

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 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. Published on 2014-10-23


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-23 09:00 AM
Interest Rate Decision 
4% 4.0% 4% 4%
2014-12-11 08:10 AM
Interest Rate Decision 
4% 4% 4% 4%
2015-02-12 08:10 AM
Interest Rate Decision 
4% 4% 4% 4%
2015-03-26 08:00 AM
Interest Rate Decision 
4% 4.25%
2015-05-14 08:00 AM
Interest Rate Decision 
4.25%
2015-06-25 08:00 AM
Interest Rate Decision 
4%


Philippines Money Last Previous Highest Lowest Unit
Interest Rate 4.00 4.00 56.60 3.50 percent [+]
Interbank Rate 2.53 2.56 41.30 2.00 percent [+]
Money Supply M0 644428.59 740639.00 740639.00 1918.00 PHP Million [+]
Money Supply M1 2264695.76 2335448.00 2335448.00 14600.00 PHP Million [+]
Money Supply M2 7173124.99 7275926.00 7275926.00 44456.00 PHP Million [+]
Money Supply M3 7480865.15 7587729.00 7587729.00 56544.00 PHP Million [+]
Foreign Exchange Reserves 80182.44 79805.80 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 2.25 Mar/15 2.25 17.50 2.25 percent [+]
Brazil 12.75 Mar/15 12.25 45.00 7.25 percent [+]
Canada 0.75 Mar/15 0.75 16.00 0.25 percent [+]
China 5.35 Mar/15 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Jan/15 0.05 4.75 0.05 percent [+]
France 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jan/15 0.05 4.75 0.05 percent [+]
India 7.50 Mar/15 7.75 14.50 4.25 percent [+]
Indonesia 7.50 Feb/15 7.75 12.75 5.75 percent [+]
Italy 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Feb/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jan/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Russia 15.00 Jan/15 17.00 17.00 5.00 percent [+]
South Korea 2.00 Feb/15 2.00 5.25 2.00 percent [+]
Spain 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jan/15 -0.25 3.50 -0.75 percent [+]
Turkey 7.50 Feb/15 7.75 500.00 4.50 percent [+]
United Kingdom 0.50 Feb/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jan/15 0.25 20.00 0.25 percent [+]