Philippines Interest Rate  1985-2017 | Data | Chart | Calendar | Forecast

The central bank of Philippines left its key overnight borrowing rate steady at 3 percent on May 11th, 2017 as widely expected, mentioning a manageable inflation. Policymakers kept its inflation forecasts for 2017-2018 unchanged at 3.0 percent ± 1 percentage point but said upside risks persist. Interest Rate in Philippines averaged 9.18 percent from 1985 until 2017, reaching an all time high of 56.60 percent in December of 1990 and a record low of 3 percent in June of 2016.

Philippines Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-02-09 08:05 AM Interest Rate Decision 3% 3% 3% 3%
2017-03-23 08:15 AM Interest Rate Decision 3% 3% 3%
2017-05-11 08:00 AM Interest Rate Decision 3% 3% 3% 3%
2017-06-22 08:00 AM Interest Rate Decision 3% 3%
2017-08-10 08:00 AM Interest Rate Decision 3%
2017-09-21 08:00 AM Interest Rate Decision 3.25%




Philippines Leaves Benchmark Rate At 3%


The central bank of Philippines hold its key overnight borrowing rate steady at 3 percent on May 11th, 2017 as widely expected, mentioning a manageable inflation. Policymakers kept its inflation forecasts for 2017-2018 unchanged at 3.0 percent ± 1 percentage point but said upside risks persist.

Statement by the Bangko Sentral NG Pilipinas:

The corresponding interest rates on the overnight lending and deposit facilities were also kept steady. The reserve requirement ratios were likewise left unchanged.

The Monetary Board’s decision is based on its assessment of manageable inflation. Latest baseline forecasts continue to be within the target range of 3.0 percent ± 1 percentage point for 2017-2018. Market expectations likewise remain anchored to the inflation target over the policy horizon. At the same time, the Monetary Board observed that inflation has remained elevated due largely to the recent increases in food prices and underlying inflation pressures.

The Monetary Board also noted that the balance of risks surrounding the inflation outlook continues to be tilted toward the upside, given the transitory impact of the proposed tax reform program as well as possible further adjustments in transportation fares and electricity rates. Meanwhile, prospects for the global economy have improved, but risks remain tilted to the downside. The Monetary Board emphasized that even amid external headwinds, the outlook for domestic economic activity remains intact owing to buoyant household consumption and private investment, increased government spending, ample liquidity, and sustained credit growth.

Going forward, the BSP will remain vigilant against any risks to the inflation outlook and will adjust its policy settings as needed to ensure that future inflation remains consistent with the medium-term target while being supportive of sustainable economic growth.

Bangko Sentral NG Pilipinas | Joana Taborda | joana.taborda@tradingeconomics.com
5/11/2017 9:43:46 AM



Philippines Money Last Previous Highest Lowest Unit
Interest Rate 3.00 3.00 56.60 3.00 percent [+]
Interbank Rate 2.50 2.50 102.63 0.00 percent [+]
Money Supply M0 882919.23 847613.24 922967.97 1918.00 PHP Million [+]
Money Supply M1 3107901.04 3053016.37 3107901.04 14600.00 PHP Million [+]
Money Supply M2 9152967.33 9076707.44 9152967.33 44456.00 PHP Million [+]
Money Supply M3 9495952.28 9433041.28 9495952.28 56544.00 PHP Million [+]
Foreign Exchange Reserves 81817.00 80893.80 86139.11 44.07 USD Million [+]
Banks Balance Sheet 1041.80 1065.70 1065.70 459.52 PHP Billion [+]
Deposit Interest Rate 1.60 1.66 21.17 1.23 percent [+]
Loans To Banks 224900.95 217290.12 287768.92 132599.00 PHP Million [+]
Loans To Private Sector 5458025.73 5382521.86 5458025.73 3584899.00 PHP Million [+]
Central Bank Balance Sheet 4559.10 4598.80 4760.70 479.78 PHP Billion [+]


Philippines Interest Rate Notes

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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.00 56.60 3.00 1985 - 2017 percent Daily



interest rate by Country

Last
Brazil 11.25 Apr/17
Russia 9.25 Apr/17
Turkey 8.00 Apr/17
Mexico 6.75 May/17
India 6.25 Apr/17
Indonesia 4.75 May/17
China 4.35 Apr/17
Australia 1.50 May/17
South Korea 1.25 Apr/17
United States 1.00 May/17
Canada 0.50 Apr/17
United Kingdom 0.25 May/17
Euro Area 0.00 May/17
France 0.00 May/17
Germany 0.00 May/17
Italy 0.00 May/17
Netherlands 0.00 May/17
Spain 0.00 May/17
Japan -0.10 Apr/17
Switzerland -0.75 May/17