Filipino monetary policy

Bangko Sentral ng Pilipinas

November 10, 2016

Filipino monetary officials decided to keep the 3.0% reverse repo rate unchanged after reviewing their stance. There hasn’t been a rate change since two closely spaced hikes in July and September of 2014. These, in turn, had reversed a percentage point of easing in 2012. Like 2015, 2013 saw no rate changes. A released statement again […] More

Bangko Sentral ng Pilipinas

March 23, 2016

Filipino central bank policy settings — a 4.0% overnight borrowing rate, a 6% overnight lending rate, and existing reserve requirement ratios — were left unchanged as expected.  The last changes in the key interest rates were hikes of 25 basis points each in July and September 2014.  A statement released today projects in-target inflation (2-4%) […] More

Bangko Sentral ng Pilipinas

February 11, 2016

Filipino monetary policy settings were not changed at the latest Board meeting.  Interest rates, currently at 4.0% on overnight borrowings from the central bank and 6% on overnight loans, were not changed in either 2015 or 2013, but there were four cuts in 2012 and two hikes of 25 basis points each in July and […] More

Bangko Sentral ng Pilipinas

December 17, 2015

The Filipino overnight borrowing rate has been at 4.0% since hikes of 25 basis points each in July and September of 2014 and will remain at that level after the latest policy review.  A released statement opines that sub-target current CPI inflation will gradually climb back into the 2-4% designated range during 2016, and observes that […] More

Filipino Central Bank Interest Rates Left Unchanged

September 24, 2015

The key rates have been 6.0% for the overnight lending rate and 4.0% for overnight borrowing since increases of 25 basis points each in July and September of last year.  Policy was not changed in 2013, but it was loosened four times in 2012.  A statement from officials at Bangko Sentral ng Pilipinas predicts that […] More

Central Bank of The Philippines

May 14, 2015

The last changes made to the overnight lending and overnight borrowing rates were hikes of 25 basis points in July and September of 2014.  Those rates since then have been at 6.0% and 4.0%.  This month’s policy meeting decided to keep those levels and also made not changes to reserve requirements.  A released statement reaffirmed […] More

Monetary Policy in The Philippines

December 11, 2014

The Filipino overnight central bank borrowing rate had been hiked by 25 basis points each this past July and September.  These were the first tightenings since May 2011, and there have not been any subsequent increases, including at today’s final scheduled policy meeting of 2014.  A brief statement today from Bangko Sentral ng Pilipinas says […] More

Bangko Sentral ng Pilipinas: No Further Tightening in the Philippines for Now

October 23, 2014

In a statement released after the latest Filipino central bank policy meeting, the decision not to raise interest rates was justified by a somewhat better inflation outlook. Latest forecasts show a lower inflation path for 2014-2016, reflecting easing pressures on commodity prices. Inflation expectations have also remained broadly stable and aligned to the inflation target.  […] More

Filipino Monetary Board Hikes Policy Rates Anew by 25 Basis Points

September 11, 2014

At Bangko Sentral ng Pilipinas, the key overnight borrowing and lending rates were raised for the second time since late July by 25 basis points to 4.0% and 6.0%.  The Special Deposit Account Rate was likewise increased as well, but reserve requirements were not changed.  Prior to the July 31 increase, the key overnight rates […] More

Australian Labor Market Shocker, Chinese Price Data, and Four Central Bank Decisions

September 11, 2014

Australian employment shot up by a record 121,000 workers in August, propelled by a 106.7K advance in part-time positions.  The Jobless rate fell for the first time since April and to 6.1% from 6.4%, while the labor participation rate climbed 0.4 percentage points to a 16-month high of 65.2%.  Analysts had projected only an 18K […] More