Bangko Sentral Ng Pilipinas

A Filipino Central Bank Rate Cut Catches Most but Not All Analysts by surprise

July 26, 2012

Bangko Sentral ng Pilipinas has implemented a third 25-basis point cut of its overnight repo and reverse repo rates.  The new levels are respectively 3.75% and 5.75%.  Similar reductions were announced earlier this year on January 19 and March 1.  Policy was not changed at the immediately prior meeting on June 14, but today’s move […] More

First Filipino Interest Rate Cut Since July 2009

January 19, 2012

The Monetary Board at Bangko Sentral ng Pilipinas cut its key overnight borrowing and lending rates by 25 basis points to 4.25% and 6.25%, respectively.  A statement from central bank officials first projected that CPI inflation this year would settled into the lower half of a 3-5% target range and also observed that "the Euro […] More

Unchanged Central Bank Rate in The Philippines as Expected

December 1, 2011

The Filipino Monetary Board left its overnight policy rate unchanged at 4.5%, which was what analysts had anticipated.  Two hikes of 25 basis points were implemented in March and May of this year, and reserve requirements were raised in June and July.  Those were the last policy changes of any sort, and now officials are […] More

Rate Hikes in The Philippines and Malaysia

May 5, 2011

Bangko Sentral Ng Pilipinas has implemented a second tightening of its monetary policy interest rates, following up on an initial move on March 24.  The reverse repo rate for borrowing was lifted 25 basis points to 4.5%, and the repo lending rate was increased to 6.5% from 6.25%.  During the recession, rates were cut by […] More