The Philippine central bank held its benchmark interest rate at 2.25 percent during its October meeting, with policymakers taking a wait-and-see approach to monetary policy after delivering four rate cuts this year in response to the severe economic disruption caused by the spread of Covid-19. The interest rates on the overnight deposit and lending facilities were also kept at 1.75 percent and 2.75 percent, respectively.
Interest Rate in Philippines averaged 7.67 percent from 1985 until 2020, reaching an all time high of 31 percent in January of 1985 and a record low of 2.25 percent in June 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 2020. source: Bangko Sentral ng Pilipinas
Interest Rate in Philippines is expected to be 2.25 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 2.75 in 12 months time. In the long-term, the Philippines Interest Rate is projected to trend around 3.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.