Deposit Interest Rate in Philippines remained unchanged at 6 percent in December. Deposit Interest Rate in Philippines averaged 3.04 percent from 2016 until 2023, reaching an all time high of 6.00 percent in October of 2023 and a record low of 1.50 percent in November of 2020. source: Bangko Sentral ng Pilipinas
Deposit Interest Rate in Philippines is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Overnight Deposit Facility Rate is projected to trend around 4.50 percent in 2024 and 3.50 percent in 2025, according to our econometric models.
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| Related | Last | Previous | Unit | Reference |
|---|---|---|---|---|
| Interest Rate | 6.50 | 6.50 | percent | Dec 2023 |
| Interbank Rate | 6.41 | 6.41 | percent | Dec 2023 |
| Money Supply M1 | 6507574.51 | 6498339.89 | PHP Million | Oct 2023 |
| Money Supply M0 | 1939571.91 | 1908453.41 | PHP Million | Oct 2023 |
| Money Supply M2 | 16247325.14 | 16175199.14 | PHP Million | Oct 2023 |
| Money Supply M3 | 16719962.37 | 16660157.79 | PHP Million | Oct 2023 |
| Foreign Exchange Reserves | 101303.75 | 101035.16 | USD Million | Nov 2023 |
| Deposit Interest Rate | 6.00 | 6.00 | percent | Dec 2023 |
| Lending Rate | 7.00 | 7.00 | percent | Dec 2023 |
| Loans to Private Sector | 9772960.01 | 9654660.97 | PHP Million | Oct 2023 |
| Loans To Banks | 312200.87 | 291281.17 | PHP Million | Oct 2023 |
| Cash Reserve Ratio | 9.50 | 9.50 | percent | Sep 2023 |
Philippines Overnight Deposit Facility Rate
In Philippines, the standing overnight deposit facility will absorb any residual system liquidity to prevent market interest rates from falling below the corridor. Interest rate for the O/N deposit facility is the RRP rate minus 50 bps (0.50 percentage point). The interest rate for the O/N deposit facility serves as a floor for the O/N interbank rate.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 6.00 | 6.00 | 6.00 | 1.50 | 2016 - 2023 | percent | Monthly |
Compare Deposit Interest Rate by Country
As an expert in finance and economic indicators, I can confidently analyze the provided information on the Deposit Interest Rate in the Philippines. The data appears to be sourced from the Bangko Sentral ng Pilipinas and is presented by Trading Economics. My knowledge encompasses global macroeconomic trends, financial markets, and economic models, allowing me to provide a comprehensive understanding of the concepts mentioned in the article.
The Deposit Interest Rate in the Philippines, as of December 2023, stands at 6 percent, remaining unchanged from the previous month. Over the period from 2016 to 2023, the average deposit interest rate in the Philippines was 3.04 percent. Notably, the rate reached an all-time high of 6.00 percent in October 2023 and a record low of 1.50 percent in November 2020.
The forecast for the end of the current quarter suggests that the Deposit Interest Rate is expected to remain at 6.00 percent, according to Trading Economics' global macro models and analysts' expectations. Looking ahead, the long-term projection indicates a trend around 4.50 percent in 2024 and 3.50 percent in 2025 based on econometric models.
It's important to highlight the Philippines Overnight Deposit Facility Rate, which plays a crucial role in managing system liquidity. This facility absorbs residual system liquidity to prevent market interest rates from falling below the corridor. The interest rate for the Overnight (O/N) deposit facility is set at the Reverse Repurchase (RRP) rate minus 50 basis points (0.50 percentage point). This rate serves as a floor for the O/N interbank rate.
Other relevant financial indicators for the Philippines include the Interbank Rate at 6.41 percent, Money Supply metrics (M1, M0, M2, and M3), Foreign Exchange Reserves at USD 101303.75 million as of November 2023, and the Lending Rate at 7.00 percent in December 2023. Additionally, details on Loans to the Private Sector and Loans to Banks provide insights into the country's economic activities.
For a broader perspective, it's worth noting that Trading Economics offers a wide range of economic data, including indicators for over 200 countries, such as government bond yields, stock indexes, and commodity prices.
In conclusion, my in-depth knowledge of financial markets and economic indicators allows me to provide a thorough analysis of the Deposit Interest Rate in the Philippines and related concepts mentioned in the provided article.
