Philippines Interest Rate

Last Release

Feb 20, 2025

Actual

5.75

Units In

5.75

Frequency

Daily

Next Release

Apr 03, 2025

Time to Release

1 Months 16 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
31 Jan 1985	2 Nov 2020	7.32 %	1985-2025	N/A

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.

Latest Updates

The Central Bank of the Philippines unexpectedly kept its benchmark interest rate at 5.75% during its February 2025 policy meeting, following three consecutive periods of rate cuts and defying market expectations of a 5.5% rate. The annual inflation rate in the Philippines stood at 2.9% in January 2025, unchanged from the previous month and exceeding market expectations of 2.7%. Inflation expectations for 2025 were adjusted upward to 3.5% from the previous forecast of 3.4%, while the 2026 forecast remained unchanged at 3.7%. Meanwhile, the Board emphasized that domestic growth prospects remain robust, although concerns over global economic uncertainties and its potential impact on the Philippine economy have intensified. The rates on the overnight deposit and lending facilities were also maintained at 5.25% and 6.25%, respectively.