The central bank of the Philippines lowered its key reverse repo rate by 50bps to 2.25 percent on June 25th 2020, the third rate cut so far this year and bringing borrowing costs to a record low. Markets were expecting no changes. The Governor mentioned downside risks to inflation between 2020 and 2022 and said there remain a critical need for continuing measures to bolster economic activity and support financial conditions, amid the coronavirus pandemic. Policymakers added that further reductions in interest rates would help mitigate the downside risks to growth.
Interest Rate in Philippines averaged 7.72 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 June 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 2.25 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.