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.

      Forecast    
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 Sunday, December 21, 2014.


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.

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 facility and 6.00 percent for the overnight lending or repurchase facility. The interest rates on term RRPs, RPs and special deposit accounts were also kept steady. The reserve requirement ratios were left unchanged as well.

The Monetary Board’s decision is based on its assessment that the inflation environment continues to be more manageable, with the risks to the inflation outlook remaining broadly balanced over the policy horizon. Latest baseline forecasts show a lower inflation path for 2014-2016 relative to the previous policy meeting, reflecting in large part the subdued outlook for global commodity prices. Inflation expectations are also generally lower and remain aligned to the inflation target. Meanwhile, output growth moderated in Q3 2014 as agricultural production contracted amid unfavorable weather conditions and as public spending slowed down. The Monetary Board also noted that while global economic conditions remain challenging, prospects for domestic activity continue to be firm, supported by strong domestic demand, robust bank lending growth, and buoyant business sentiment.

On balance, the Monetary Board is of the view that prevailing monetary policy settings remain appropriate given the manageable inflation outlook and favorable domestic growth prospects. Going forward, the BSP will continue to monitor evolving price and output developments and remains prepared to take appropriate measures as necessary to ensure that the monetary policy stance continues to support an environment characterized by price and financial stability.

Bangko Sentral NG Pilipinas | Joana Taborda | joana.taborda@tradingeconomics.com
12/11/2014 9:16:17 AM


Recent Releases

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

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
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 08:10 AM
Interest Rate Decision 
4% 4% 4% 4%
2015-02-06 08:00 AM
Interest Rate Decision 
4%
2015-03-27 08:00 AM
Interest Rate Decision 
4.25%
2015-05-08 09:10 AM
Interest Rate Decision 
4.25%


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 617702.80 587866.06 640916.00 1918.00 PHP Million [+]
Money Supply M1 2152832.66 2134642.09 2152832.66 14600.00 PHP Million [+]
Money Supply M2 6942588.42 6945093.39 6945093.39 44456.00 PHP Million [+]
Money Supply M3 7208444.32 7204093.18 7208444.32 56544.00 PHP Million [+]
Foreign Exchange Reserves 78984.31 79295.85 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 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 11.75 Dec/14 11.25 45.00 7.25 percent [+]
Canada 1.00 Dec/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Dec/14 0.05 4.75 0.05 percent [+]
France 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Dec/14 0.05 4.75 0.05 percent [+]
India 8.00 Dec/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Dec/14 7.75 12.75 5.75 percent [+]
Italy 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Dec/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Dec/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Russia 17.00 Dec/14 9.50 17.00 5.00 percent [+]
South Korea 2.00 Dec/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Switzerland -0.25 Dec/14 0.00 3.50 -0.25 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Dec/14 0.50 17.00 0.50 percent [+]
United States 0.25 Dec/14 0.25 20.00 0.25 percent [+]