The Philippine central bank left its key overnight borrowing rate steady at 2 percent during its December meeting, as expected after the annual inflation rate rose to 3.3 percent in November, within the central bank’s 2-4 percent target. Meantime, the BPS increased its inflation forecasts for 2020 to 2.6 percent from 2.4 percent and for 2021 to 3.2 percent from 2.7 percent. Also, policymakers said they stand ready to deploy full arsenal of instruments as needed. source: Bangko Sentral ng Pilipinas
Interest Rate in Philippines averaged 7.64 percent from 1985 until 2020, 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 February 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.