At its 19 April monetary policy meeting, the Central Bank maintained its Reverse Repurchase Rate unchanged at a record low of 4.00%. The decision was widely expected by the market and followed a 25-basis-point cut in March. The Bank's decision comes in the midst of a subdued inflation environment, as inflation fell to a 30-month low in March. The Central Bank stated that
Philippines Monetary Policy
Central Bank stays put on interest rates
April 19, 2012
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Note: Reverse Repurchase Rate in %.
Source: Central Bank of the Philippines (BSP).
Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.