The central bank of the Philippines left the key overnight repo rate steady at a record low of 2 percent on September 23rd 2021, in line with expectations, and aiming to manage high inflation and uncertain growth outlook. Policymakers said the risks to the inflation outlook have tilted towards the upside for 2021 but remain broadly balanced for 2022 and 2023. Inflation forecasts were revised higher to 4.4 percent in 2021 from a prior 4.1 percent; 3.3 percent in 2022 and 3.2 percent in 2023, both previously expected at 3.1 percent. The interest rates on the overnight deposit and lending facilities were also kept unchanged at 1.5 percent and 2.5 percent, respectively. Meanwhile, the central bank also said it stands ready to take appropriate measures as necessary to ensure that the monetary policy stance remains in line with its price and financial stability mandates. source: Bangko Sentral ng Pilipinas
Interest Rate in Philippines averaged 7.53 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 October 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. In the long-term, the Philippines Interest Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.