Philippines BSP Target Reverse Repurchase (RRP) Rate
Philippines BSP Target Reverse Repurchase (RRP) Rate is 5 percent, in force since 28 Aug 2026, cited to Bangko Sentral ng Pilipinas. It was 4.75 percent before that. Last checked against the official source on 9 Oct 2026.
Official source: Bangko Sentral ng Pilipinas · Last checked 2026-10-09 · source fingerprint
Benchmark policy rate of the Bangko Sentral ng Pilipinas, set at the midpoint of the interest-rate corridor by the Monetary Board (~6 scheduled meetings per year).
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| Current value | 5 percent |
|---|---|
| In force from | 2026-08-28 |
| Official source | Bangko Sentral ng Pilipinas — Target Reverse Repurchase (RRP) Rate daily table, 2026 (in percent per annum): 4.75 through 27 Aug, 5.00 from 28 Aug 2026 to 9 Oct 2026; Monetary Board decision of 27 August 2026 (+25 bps) |
| Last verified | 2026-10-09 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
UPDATE 2026-10-09 (coverage re-verify): Monetary Board meeting of 27 Aug 2026 raised the target RRP rate 25 bps to 5.00% (third consecutive hike after April and June); overnight deposit 4.50%, overnight lending 5.50%. BSP's own daily Target RRP table (the cited page, read 2026-10-09) shows 4.75 on 27 Aug and 5.00 from 28 Aug through 9 Oct 2026. The served 4.75% was stale from 28 Aug; its 2026-10-05 restamp by provenance-byte-identity was against an older snapshot (bsp.gov.ph returns 403 to att1). CARRIED FORWARD (notes written for the previous value; access quirks and traps still apply): MB meeting no. 3 of 2026 (18 Jun) raised the target RRP 25 bps to 4.75%; BSP's daily Target RRP table shows 4.50% on 18 Jun and 4.75% from 19 Jun 2026 (effective next banking day). Corridor: overnight deposit facility 4.25%, overnight lending facility 5.25%. Second consecutive hike after +25 bps at the 23 Apr 2026 meeting; the MB had cut 25 bps on 19 Feb 2026 (to 4.25%) following a Dec-2025 cut to 4.50%. Tightening responds to headline inflation (6.4% y/y Jun 2026) overshooting the 3.0% +/-1.0 ppt target set for 2026-2028. Confirmed from Monetary Policy Report - June 2026 (published 8 Jul 2026; PDF requires local text extraction) and the daily RRP statistics page, which is the best machine-checkable endpoint.
Earlier values
| From | Value | Source |
|---|---|---|
| 2026-06-19 | 4.75 | BSP Monetary Board decision of 18 June 2026 (+25 bps to… |
| 2026-04-24 | 4.5 | — |
| 2026-02-20 | 4.25 | — |
| 2025-12-12 | 4.5 | Bank for International Settlements - Central Bank Policy… |
| 2025-10-10 | 4.75 | Bank for International Settlements - Central Bank Policy… |
| 2025-08-29 | 5 | Bank for International Settlements - Central Bank Policy… |
| 2025-06-20 | 5.25 | Bank for International Settlements - Central Bank Policy… |
| 2025-04-11 | 5.5 | Bank for International Settlements - Central Bank Policy… |
| 2024-12-20 | 5.75 | Bank for International Settlements - Central Bank Policy… |
| 2024-10-17 | 6 | Bank for International Settlements - Central Bank Policy… |
| 2024-08-16 | 6.25 | Bank for International Settlements - Central Bank Policy… |
| 2023-10-27 | 6.5 | Bank for International Settlements - Central Bank Policy… |
Get it programmatically
curl https://asiaref.dev/v1/ph/policy-rate
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://asiaref.dev/v1/ph/policy-rate/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/ph/policy-rateEmail me when this changes
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Other Philippines series: Value-Added Tax (standard rate) · VAT registration threshold · Minimum Wage (lowest regional non-agriculture daily floor) · Public Holidays 2026 · Consumer Price Inflation (headline, y/y) · Corporate Income Tax (regular rate) · Withholding tax rates · Legal interest rate · Personal Income Tax (graduated schedule) · Statutory social-insurance contributions
The same figure elsewhere: Qatar · Saudi Arabia · Singapore · South Korea · Sri Lanka · all 28