Data / Central bank policy rate / Philippines

Central bank policy rate in Philippines

Central bank policy rate in the Philippines was 5% in September 2026, according to Bank for International Settlements. That is unchanged from September 2025. That is the 12th highest of 36 countries in July 2026.

September 20265%
Change on September 20250 pts
Rank12th of 36Countries ranked
Series high27.5September 1989
Series low2November 2020

Central bank policy rate in Philippines, January 1986 to September 2026

CSVChart (SVG)

01020301986-011992-081998-052004-022009-112015-082021-052026-091986-01: 12 %1986-02: 6 %1986-03: 15 %1986-04: 15 %1986-05: 5 %1986-06: 9 %1986-07: 12 %1986-08: 5 %1986-09: 6 %1986-10: 5 %1986-11: 6 %1986-12: 15 %1987-01: 5 %1987-02: 6 %1987-03: 8 %1987-04: 7 %1987-05: 5 %1987-06: 5 %1987-07: 5 %1987-08: 8.25 %1987-09: 5 %1987-10: 13 %1987-11: 12 %1987-12: 9 %1988-02: 5 %1988-03: 5 %1988-04: 5 %1988-05: 7 %1988-06: 10 %1988-07: 5 %1988-08: 7.5 %1988-09: 22 %1988-10: 5 %1988-11: 12 %1988-12: 14 %1989-01: 13.5 %1989-02: 13.75 %1989-03: 10 %1989-04: 12.5 %1989-05: 12.5 %1989-06: 14 %1989-07: 14.5 %1989-09: 27.5 %1989-10: 8 %1989-11: 10 %1990-03: 7.563 %1990-06: 4.125 %1990-07: 11 %1990-08: 21.563 %1990-09: 7.908 %1990-12: 19.308 %1991-01: 8 %1991-02: 7 %1991-03: 5.5 %1991-04: 4.5 %1991-05: 5 %1991-06: 5.386 %1991-07: 13.5 %1991-08: 16.5 %1991-09: 16.5 %1991-10: 5 %1991-11: 4.5 %1991-12: 6 %1992-01: 4.5 %1992-03: 5 %1992-04: 6 %1992-05: 7 %1992-06: 10 %1992-07: 14 %1992-08: 15.5 %1992-09: 14.25 %1992-10: 13.5 %1992-11: 13 %1992-12: 12.813 %1993-01: 12 %1993-02: 11.5 %1993-03: 10.563 %1993-04: 9.5 %1993-05: 9.75 %1993-06: 9.125 %1993-07: 13 %1993-08: 11 %1993-09: 10.938 %1993-10: 12.5 %1993-11: 13 %1993-12: 12.5 %1994-01: 12 %1994-02: 12.5 %1994-03: 12.5 %1994-04: 12 %1994-05: 11.5 %1994-06: 11 %1994-07: 11 %1994-08: 9.2 %1994-09: 8 %1994-10: 8.5 %1994-11: 8.5 %1994-12: 8.5 %1995-01: 9 %1995-02: 25 %1995-03: 12 %1995-04: 11 %1995-05: 9.5 %1995-06: 8.75 %1995-07: 7.25 %1995-08: 7.5 %1995-09: 8.5 %1995-10: 9.125 %1995-11: 14 %1995-12: 14 %1996-01: 13.875 %1996-02: 14 %1996-03: 13.75 %1996-04: 12.688 %1996-05: 12 %1996-06: 11.875 %1996-07: 11 %1996-08: 10.25 %1996-09: 11 %1996-10: 11 %1996-11: 10.75 %1996-12: 10.75 %1997-01: 10.5 %1997-02: 10.5 %1997-03: 9.9 %1997-04: 10.25 %1997-05: 16 %1997-06: 15 %1997-07: 20 %1997-08: 12 %1997-09: 12 %1997-10: 12 %1997-11: 12 %1997-12: 11 %1998-01: 14 %1998-02: 13 %1998-03: 13 %1998-04: 13.5 %1998-05: 13.125 %1998-06: 13.125 %1998-07: 13 %1998-08: 16 %1998-09: 16 %1998-10: 13.75 %1998-11: 13.5 %1998-12: 13.375 %1999-01: 12.875 %1999-02: 12.5 %1999-03: 11.875 %1999-04: 10.375 %1999-05: 9.875 %1999-06: 9.125 %1999-07: 9 %1999-08: 9 %1999-09: 9 %1999-10: 9 %1999-11: 8.75 %1999-12: 8.75 %2000-01: 8.75 %2000-02: 8.75 %2000-03: 8.75 %2000-04: 8.75 %2000-05: 10 %2000-06: 10 %2000-07: 10 %2000-08: 10 %2000-09: 11 %2000-10: 15 %2000-11: 15 %2000-12: 13.5 %2001-01: 12 %2001-02: 11 %2001-03: 10 %2001-04: 9.5 %2001-05: 9 %2001-06: 9 %2001-07: 9 %2001-08: 9 %2001-09: 9 %2001-10: 8.75 %2001-11: 8.25 %2001-12: 7.75 %2002-01: 7.5 %2002-02: 7.25 %2002-03: 7 %2002-04: 7 %2002-05: 7 %2002-06: 7 %2002-07: 7 %2002-08: 7 %2002-09: 7 %2002-10: 7 %2002-11: 7 %2002-12: 7 %2003-01: 7 %2003-02: 7 %2003-03: 7 %2003-04: 7 %2003-05: 7 %2003-06: 7 %2003-07: 6.75 %2003-08: 6.75 %2003-09: 6.75 %2003-10: 6.75 %2003-11: 6.75 %2003-12: 6.75 %2004-01: 6.75 %2004-02: 6.75 %2004-03: 6.75 %2004-04: 6.75 %2004-05: 6.75 %2004-06: 6.75 %2004-07: 6.75 %2004-08: 6.75 %2004-09: 6.75 %2004-10: 6.75 %2004-11: 6.75 %2004-12: 6.75 %2005-01: 6.75 %2005-02: 6.75 %2005-03: 6.75 %2005-04: 7 %2005-05: 7 %2005-06: 7 %2005-07: 7 %2005-08: 7 %2005-09: 7.25 %2005-10: 7.5 %2005-11: 7.5 %2005-12: 7.5 %2006-01: 7.5 %2006-02: 7.5 %2006-03: 7.5 %2006-04: 7.5 %2006-05: 7.5 %2006-06: 7.5 %2006-07: 7.5 %2006-08: 7.5 %2006-09: 7.5 %2006-10: 7.5 %2006-11: 7.5 %2006-12: 7.5 %2007-01: 7.5 %2007-02: 7.5 %2007-03: 7.5 %2007-04: 7.5 %2007-05: 7.5 %2007-06: 7.5 %2007-07: 6 %2007-08: 6 %2007-09: 6 %2007-10: 5.75 %2007-11: 5.5 %2007-12: 5.25 %2008-01: 5 %2008-02: 5 %2008-03: 5 %2008-04: 5 %2008-05: 5 %2008-06: 5.25 %2008-07: 5.75 %2008-08: 6 %2008-09: 6 %2008-10: 6 %2008-11: 6 %2008-12: 5.5 %2009-01: 5 %2009-02: 5 %2009-03: 4.75 %2009-04: 4.5 %2009-05: 4.25 %2009-06: 4.25 %2009-07: 4 %2009-08: 4 %2009-09: 4 %2009-10: 4 %2009-11: 4 %2009-12: 4 %2010-01: 4 %2010-02: 4 %2010-03: 4 %2010-04: 4 %2010-05: 4 %2010-06: 4 %2010-07: 4 %2010-08: 4 %2010-09: 4 %2010-10: 4 %2010-11: 4 %2010-12: 4 %2011-01: 4 %2011-02: 4 %2011-03: 4.25 %2011-04: 4.25 %2011-05: 4.5 %2011-06: 4.5 %2011-07: 4.5 %2011-08: 4.5 %2011-09: 4.5 %2011-10: 4.5 %2011-11: 4.5 %2011-12: 4.5 %2012-01: 4.25 %2012-02: 4.25 %2012-03: 4 %2012-04: 4 %2012-05: 4 %2012-06: 4 %2012-07: 3.75 %2012-08: 3.75 %2012-09: 3.75 %2012-10: 3.5 %2012-11: 3.5 %2012-12: 3.5 %2013-01: 3.5 %2013-02: 3.5 %2013-03: 3.5 %2013-04: 3.5 %2013-05: 3.5 %2013-06: 3.5 %2013-07: 3.5 %2013-08: 3.5 %2013-09: 3.5 %2013-10: 3.5 %2013-11: 3.5 %2013-12: 3.5 %2014-01: 3.5 %2014-02: 3.5 %2014-03: 3.5 %2014-04: 3.5 %2014-05: 3.5 %2014-06: 3.5 %2014-07: 3.75 %2014-08: 3.75 %2014-09: 4 %2014-10: 4 %2014-11: 4 %2014-12: 4 %2015-01: 4 %2015-02: 4 %2015-03: 4 %2015-04: 4 %2015-05: 4 %2015-06: 4 %2015-07: 4 %2015-08: 4 %2015-09: 4 %2015-10: 4 %2015-11: 4 %2015-12: 4 %2016-01: 4 %2016-02: 4 %2016-03: 4 %2016-04: 4 %2016-05: 4 %2016-06: 3 %2016-07: 3 %2016-08: 3 %2016-09: 3 %2016-10: 3 %2016-11: 3 %2016-12: 3 %2017-01: 3 %2017-02: 3 %2017-03: 3 %2017-04: 3 %2017-05: 3 %2017-06: 3 %2017-07: 3 %2017-08: 3 %2017-09: 3 %2017-10: 3 %2017-11: 3 %2017-12: 3 %2018-01: 3 %2018-02: 3 %2018-03: 3 %2018-04: 3 %2018-05: 3.25 %2018-06: 3.5 %2018-07: 3.5 %2018-08: 4 %2018-09: 4.5 %2018-10: 4.5 %2018-11: 4.75 %2018-12: 4.75 %2019-01: 4.75 %2019-02: 4.75 %2019-03: 4.75 %2019-04: 4.75 %2019-05: 4.5 %2019-06: 4.5 %2019-07: 4.5 %2019-08: 4.25 %2019-09: 4 %2019-10: 4 %2019-11: 4 %2019-12: 4 %2020-01: 4 %2020-02: 3.75 %2020-03: 3.25 %2020-04: 2.75 %2020-05: 2.75 %2020-06: 2.25 %2020-07: 2.25 %2020-08: 2.25 %2020-09: 2.25 %2020-10: 2.25 %2020-11: 2 %2020-12: 2 %2021-01: 2 %2021-02: 2 %2021-03: 2 %2021-04: 2 %2021-05: 2 %2021-06: 2 %2021-07: 2 %2021-08: 2 %2021-09: 2 %2021-10: 2 %2021-11: 2 %2021-12: 2 %2022-01: 2 %2022-02: 2 %2022-03: 2 %2022-04: 2 %2022-05: 2.25 %2022-06: 2.5 %2022-07: 3.25 %2022-08: 3.75 %2022-09: 4.25 %2022-10: 4.25 %2022-11: 5 %2022-12: 5.5 %2023-01: 5.5 %2023-02: 6 %2023-03: 6.25 %2023-04: 6.25 %2023-05: 6.25 %2023-06: 6.25 %2023-07: 6.25 %2023-08: 6.25 %2023-09: 6.25 %2023-10: 6.5 %2023-11: 6.5 %2023-12: 6.5 %2024-01: 6.5 %2024-02: 6.5 %2024-03: 6.5 %2024-04: 6.5 %2024-05: 6.5 %2024-06: 6.5 %2024-07: 6.5 %2024-08: 6.25 %2024-09: 6.25 %2024-10: 6 %2024-11: 6 %2024-12: 5.75 %2025-01: 5.75 %2025-02: 5.75 %2025-03: 5.75 %2025-04: 5.5 %2025-05: 5.5 %2025-06: 5.25 %2025-07: 5.25 %2025-08: 5 %2025-09: 5 %2025-10: 4.75 %2025-11: 4.75 %2025-12: 4.5 %2026-01: 4.5 %2026-02: 4.25 %2026-03: 4.25 %2026-04: 4.5 %2026-05: 4.5 %2026-06: 4.75 %2026-07: 4.75 %2026-08: 5 %2026-09: 5 %
%. Source: BIS. Retrieved 2026-10-09.
All 479 values
Period%
2026-095
2026-085
2026-074.75
2026-064.75
2026-054.5
2026-044.5
2026-034.25
2026-024.25
2026-014.5
2025-124.5
2025-114.75
2025-104.75
2025-095
2025-085
2025-075.25
2025-065.25
2025-055.5
2025-045.5
2025-035.75
2025-025.75
2025-015.75
2024-125.75
2024-116
2024-106
2024-096.25
2024-086.25
2024-076.5
2024-066.5
2024-056.5
2024-046.5
2024-036.5
2024-026.5
2024-016.5
2023-126.5
2023-116.5
2023-106.5
2023-096.25
2023-086.25
2023-076.25
2023-066.25
2023-056.25
2023-046.25
2023-036.25
2023-026
2023-015.5
2022-125.5
2022-115
2022-104.25
2022-094.25
2022-083.75
2022-073.25
2022-062.5
2022-052.25
2022-042
2022-032
2022-022
2022-012
2021-122
2021-112
2021-102
2021-092
2021-082
2021-072
2021-062
2021-052
2021-042
2021-032
2021-022
2021-012
2020-122
2020-112
2020-102.25
2020-092.25
2020-082.25
2020-072.25
2020-062.25
2020-052.75
2020-042.75
2020-033.25
2020-023.75
2020-014
2019-124
2019-114
2019-104
2019-094
2019-084.25
2019-074.5
2019-064.5
2019-054.5
2019-044.75
2019-034.75
2019-024.75
2019-014.75
2018-124.75
2018-114.75
2018-104.5
2018-094.5
2018-084
2018-073.5
2018-063.5
2018-053.25
2018-043
2018-033
2018-023
2018-013
2017-123
2017-113
2017-103
2017-093
2017-083
2017-073
2017-063
2017-053
2017-043
2017-033
2017-023
2017-013
2016-123
2016-113
2016-103
2016-093
2016-083
2016-073
2016-063
2016-054
2016-044
2016-034
2016-024
2016-014
2015-124
2015-114
2015-104
2015-094
2015-084
2015-074
2015-064
2015-054
2015-044
2015-034
2015-024
2015-014
2014-124
2014-114
2014-104
2014-094
2014-083.75
2014-073.75
2014-063.5
2014-053.5
2014-043.5
2014-033.5
2014-023.5
2014-013.5
2013-123.5
2013-113.5
2013-103.5
2013-093.5
2013-083.5
2013-073.5
2013-063.5
2013-053.5
2013-043.5
2013-033.5
2013-023.5
2013-013.5
2012-123.5
2012-113.5
2012-103.5
2012-093.75
2012-083.75
2012-073.75
2012-064
2012-054
2012-044
2012-034
2012-024.25
2012-014.25
2011-124.5
2011-114.5
2011-104.5
2011-094.5
2011-084.5
2011-074.5
2011-064.5
2011-054.5
2011-044.25
2011-034.25
2011-024
2011-014
2010-124
2010-114
2010-104
2010-094
2010-084
2010-074
2010-064
2010-054
2010-044
2010-034
2010-024
2010-014
2009-124
2009-114
2009-104
2009-094
2009-084
2009-074
2009-064.25
2009-054.25
2009-044.5
2009-034.75
2009-025
2009-015
2008-125.5
2008-116
2008-106
2008-096
2008-086
2008-075.75
2008-065.25
2008-055
2008-045
2008-035
2008-025
2008-015
2007-125.25
2007-115.5
2007-105.75
2007-096
2007-086
2007-076
2007-067.5
2007-057.5
2007-047.5
2007-037.5
2007-027.5
2007-017.5
2006-127.5
2006-117.5
2006-107.5
2006-097.5
2006-087.5
2006-077.5
2006-067.5
2006-057.5
2006-047.5
2006-037.5
2006-027.5
2006-017.5
2005-127.5
2005-117.5
2005-107.5
2005-097.25
2005-087
2005-077
2005-067
2005-057
2005-047
2005-036.75
2005-026.75
2005-016.75
2004-126.75
2004-116.75
2004-106.75
2004-096.75
2004-086.75
2004-076.75
2004-066.75
2004-056.75
2004-046.75
2004-036.75
2004-026.75
2004-016.75
2003-126.75
2003-116.75
2003-106.75
2003-096.75
2003-086.75
2003-076.75
2003-067
2003-057
2003-047
2003-037
2003-027
2003-017
2002-127
2002-117
2002-107
2002-097
2002-087
2002-077
2002-067
2002-057
2002-047
2002-037
2002-027.25
2002-017.5
2001-127.75
2001-118.25
2001-108.75
2001-099
2001-089
2001-079
2001-069
2001-059
2001-049.5
2001-0310
2001-0211
2001-0112
2000-1213.5
2000-1115
2000-1015
2000-0911
2000-0810
2000-0710
2000-0610
2000-0510
2000-048.75
2000-038.75
2000-028.75
2000-018.75
1999-128.75
1999-118.75
1999-109
1999-099
1999-089
1999-079
1999-069.125
1999-059.875
1999-0410.375
1999-0311.875
1999-0212.5
1999-0112.875
1998-1213.375
1998-1113.5
1998-1013.75
1998-0916
1998-0816
1998-0713
1998-0613.125
1998-0513.125
1998-0413.5
1998-0313
1998-0213
1998-0114
1997-1211
1997-1112
1997-1012
1997-0912
1997-0812
1997-0720
1997-0615
1997-0516
1997-0410.25
1997-039.9
1997-0210.5
1997-0110.5
1996-1210.75
1996-1110.75
1996-1011
1996-0911
1996-0810.25
1996-0711
1996-0611.875
1996-0512
1996-0412.688
1996-0313.75
1996-0214
1996-0113.875
1995-1214
1995-1114
1995-109.125
1995-098.5
1995-087.5
1995-077.25
1995-068.75
1995-059.5
1995-0411
1995-0312
1995-0225
1995-019
1994-128.5
1994-118.5
1994-108.5
1994-098
1994-089.2
1994-0711
1994-0611
1994-0511.5
1994-0412
1994-0312.5
1994-0212.5
1994-0112
1993-1212.5
1993-1113
1993-1012.5
1993-0910.938
1993-0811
1993-0713
1993-069.125
1993-059.75
1993-049.5
1993-0310.563
1993-0211.5
1993-0112
1992-1212.813
1992-1113
1992-1013.5
1992-0914.25
1992-0815.5
1992-0714
1992-0610
1992-057
1992-046
1992-035
1992-014.5
1991-126
1991-114.5
1991-105
1991-0916.5
1991-0816.5
1991-0713.5
1991-065.386
1991-055
1991-044.5
1991-035.5
1991-027
1991-018
1990-1219.308
1990-097.908
1990-0821.563
1990-0711
1990-064.125
1990-037.563
1989-1110
1989-108
1989-0927.5
1989-0714.5
1989-0614
1989-0512.5
1989-0412.5
1989-0310
1989-0213.75
1989-0113.5
1988-1214
1988-1112
1988-105
1988-0922
1988-087.5
1988-075
1988-0610
1988-057
1988-045
1988-035
1988-025
1987-129
1987-1112
1987-1013
1987-095
1987-088.25
1987-075
1987-065
1987-055
1987-047
1987-038
1987-026
1987-015
1986-1215
1986-116
1986-105
1986-096
1986-085
1986-0712
1986-069
1986-055
1986-0415
1986-0315
1986-026
1986-0112

Rankings

Definition

The rate a central bank sets to steer monetary policy, or its operational target, in percent per year. United States: effective federal funds rate, monthly average of daily rates (Federal Reserve H.15). Euro area: ECB deposit facility rate in force on the last day of the month. Other countries: the policy rate in force at the end of the month as reported by the national central bank and compiled by the BIS.

Timing differs by source: the US figure is a monthly average of the market rate that the Federal Reserve targets (the target range is set by the FOMC; the BIS copy uses its midpoint), while ECB and BIS figures are end-of-month levels. The euro area series is the deposit facility rate for its whole history; the ECB has steered with it since September 2024, and before that the BIS series and most press coverage used the main refinancing rate (see ecb_main_refinancing_rate). Euro area members have no national policy rate since 1999, so their BIS series end in 1998. Each BIS series names its central bank and the instrument used in each period.

How to cite

Bank for International Settlements (BIS), from national central bank data. Central bank policy rates (WS_CBPOL), monthly, end of period, as reported by the national central bank named in the series (SOURCE_REF). https://stats.bis.org/api/v2/data/dataflow/BIS/WS_CBPOL/1.0/M.PH?format=csv. Retrieved 2026-10-09.

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Questions

What is the central bank policy rate in Philippines?

Central bank policy rate in the Philippines was 5% in September 2026, according to Bank for International Settlements. That is unchanged from September 2025. That is the 12th highest of 36 countries in July 2026.

Where does this figure come from?

Bank for International Settlements. Central bank policy rates (WS_CBPOL), monthly, end of period, as reported by the national central bank named in the series (SOURCE_REF). Retrieved by Invokely on 2026-10-09.

What was the highest central bank policy rate in Philippines?

27.5% in September 1989, the highest value since January 1986 in this series.

More statistics for Philippines

All statistics for Philippines