Philippines interest rate
Bangko Sentral ng Pilipinas
- Policy rate
- 5.00%
- Sep 18, 2026
- Last move
- +0.25 pt
- Aug 2026
- Inflation
- 6.4%
- Jun 2026
- 10-year bond yield
- –
- not available
The policy rate set by Bangko Sentral ng Pilipinas is 5.00% as of Sep 18, 2026. Its most recent move: it raised its rate from 4.75% to 5.00% (Aug 2026). With consumer prices up 6.4% over the 12 months to Jun 2026, the real rate (policy rate minus inflation) is −1.4%: borrowing costs are below inflation.
Policy rate over the past two years
Sep 18, 2026: 5.00%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Aug 2026 | Hike | 4.75% | 5.00% | +0.25 pt |
| Jun 2026 | Hike | 4.50% | 4.75% | +0.25 pt |
| Apr 2026 | Hike | 4.25% | 4.50% | +0.25 pt |
| Feb 2026 | Cut | 4.50% | 4.25% | −0.25 pt |
| Dec 2025 | Cut | 4.75% | 4.50% | −0.25 pt |
| Oct 2025 | Cut | 5.00% | 4.75% | −0.25 pt |
| Aug 2025 | Cut | 5.25% | 5.00% | −0.25 pt |
| Jun 2025 | Cut | 5.50% | 5.25% | −0.25 pt |
| Apr 2025 | Cut | 5.75% | 5.50% | −0.25 pt |
| Dec 2024 | Cut | 6.00% | 5.75% | −0.25 pt |
| Oct 2024 | Cut | 6.25% | 6.00% | −0.25 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Jun 2026: 6.4%
Other central banks in Asia
Source: BIS; inflation: IMF CPI. Updated daily. All central bank rates · Philippines economy dashboard