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Philippines Interest Rate

The Philippines' interest rate fell to 4.75% in October 2025 from 5% in August 2025. This decrease occurred due to a stable inflation outlook and a weaker domestic growth forecast. Inflation expectations remained anchored and price growth was within the target range. Business sentiment was subdued and external uncertainties impacted growth. Upside risks to inflation included potential electricity rate changes and higher rice import tariffs. The Philippines' record low interest rate was 2% in November 2020 and record high was 6.5% in October 2023.

Historical Data (2015-2025)

(in %)
Date Interest Rate
Oct 09, 2025 4.75%
Aug 28, 2025 5%
Jun 19, 2025 5.25%
Apr 10, 2025 5.5%
Feb 13, 2025 5.75%
Dec 19, 2024 5.75%
Oct 17, 2024 6%
Aug 15, 2024 6.25%
Jun 27, 2024 6.5%
May 16, 2024 6.5%
Apr 08, 2024 6.5%
Feb 15, 2024 6.5%
Dec 14, 2023 6.5%
Oct 26, 2023 6.5%
Sep 21, 2023 6.25%
Aug 17, 2023 6.25%
Jun 22, 2023 6.25%
May 18, 2023 6.25%
Mar 23, 2023 6.25%
Feb 16, 2023 6%
Dec 15, 2022 5.5%
Oct 31, 2022 4.25%
Sep 22, 2022 4.25%
Aug 18, 2022 3.75%
Jul 14, 2022 3.25%
Jun 23, 2022 2.5%
May 19, 2022 2.25%
Mar 24, 2022 2%
Feb 17, 2022 2%
Dec 16, 2021 2%
Nov 11, 2021 2%
Sep 23, 2021 2%
Aug 12, 2021 2%
Jun 24, 2021 2%
May 12, 2021 2%
Mar 25, 2021 2%
Feb 11, 2021 2%
Dec 17, 2020 2%
Nov 19, 2020 2%
Sep 30, 2020 2.25%
Aug 20, 2020 2.25%
Jun 25, 2020 2.25%
Apr 16, 2020 2.75%
Mar 19, 2020 3.25%
Feb 06, 2020 3.75%
Dec 12, 2019 4%
Oct 31, 2019 4%
Sep 26, 2019 4%
Aug 08, 2019 4.25%
Jun 20, 2019 4.5%
May 09, 2019 4.5%
Mar 21, 2019 4.75%
Feb 07, 2019 4.75%
Dec 13, 2018 4.75%
Oct 31, 2018 4.5%
Sep 27, 2018 4.5%
Aug 09, 2018 4%
Jun 21, 2018 3.5%
May 10, 2018 3.25%
Mar 22, 2018 3%
Feb 09, 2018 3%
Dec 14, 2017 3%
Nov 09, 2017 3%
Sep 21, 2017 3%
Aug 10, 2017 3%
Jun 22, 2017 3%
May 11, 2017 3%
Mar 23, 2017 3%
Feb 09, 2017 3%
Dec 22, 2016 3%
Nov 10, 2016 3%
Sep 22, 2016 3%
Aug 13, 2016 3%
Jul 30, 2016 3%
Jun 25, 2016 3%
May 12, 2016 4%
Apr 30, 2016 4%
Mar 23, 2016 4%
Feb 11, 2016 4%
Dec 17, 2015 4%
Nov 12, 2015 4%
Sep 24, 2015 4%

Recent Events

datetime event actual previous consensus
2025-10-09 02:30 AM Interest Rate Decision 4.75% 5% 5%
2025-08-28 03:00 AM Interest Rate Decision 5% 5.25% 5%

Next Release Date :

Philippines Interest Rate : Definition
The Interest Rate set by the Bangko Sentral ng Pilipinas is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -3.8% -2.8% Dec'24
Debt to GDP Ratio 60.7% 60.1% Dec'24
Private Credit (% GDP) 49.81% 48.31% 2024