Philippines policy interest rate
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).
| Current value | 4.75 percent |
|---|---|
| In force from | 2026-06-19 |
| Official source | BSP Monetary Board decision of 18 June 2026 (+25 bps to 4.75%), Monetary Policy Report - June 2026, p.1; BSP daily Target RRP rate series |
| Last verified | 2026-07-20 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
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 |
|---|---|---|
| 2018-01-03 | 3 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-05-10 | 3.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-06-21 | 3.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-08-10 | 4 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-09-28 | 4.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-11-16 | 4.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-05-10 | 4.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-08-09 | 4.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-09-27 | 4 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-02-07 | 3.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-20 | 3.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-04-17 | 2.75 | Bank for International Settlements - Central Bank Policy Rat |
Get it programmatically
curl https://asiaref.dev/v1/ph/policy-rate
# $0.001 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-rateOther Philippines series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates