The central bank of the Philippines left the key overnight repo rate steady at 2% on May 12th 2021, in line with forecasts. The interest rates on the overnight deposit and lending facilities were also kept at 1.5 percent and 2.5 percent, respectively. Policymakers said risks to the inflation outlook are broadly balanced and inflation is likely to settle within the 2%-4% target in 2021 and 2022. Inflation is expected to average near 4 percent in 2021, as price pressures on food commodities are abating while inflation in 2022 is seen to remain near 3 percent but forecast has increased slightly owing in part to rising international crude oil prices. source: Bangko Sentral ng Pilipinas
Interest Rate in Philippines averaged 7.58 percent from 1985 until 2021, reaching an all time high of 31 percent in January of 1985 and a record low of 2 percent in November of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Interest Rate in Philippines is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Philippines to stand at 2.25 in 12 months time. In the long-term, the Philippines Interest Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.