Philippines

Restrictive

Policy rate

5.00%

Last move Aug 2026

Inflation

1.66%

As of null

Real policy rate

3.34%

Policy rate less inflation

Debt to GDP

60.20%

2026 est.

Inflation target3%

Policy rate vs target—

Last move+25 bps hike

Months at current rate—

Real GDP growth4.10%

Next scheduled decisionOct 22, 2026

Policy rate path, latest five years.

The verdict

Philippines sets its policy rate at 5.00%, against inflation of 1.66% — a real rate of 3.34% after inflation. The most recent decision was a 25bp hike in Aug 2026. The bank targets 3% inflation, and prices are running below that at 1.66%. On the fiscal side, the economy carries government debt of 60.2% of GDP (2026 est.) and real GDP growth of 4.1%.

Sources: policy rate and cycle history — BIS central bank policy rates (WS_CBPOL); inflation — national statistical agencies; debt and growth — IMF World Economic Outlook. Methodology: https://www.globalfinancialinfo.info/methodology/policy-rates · Dataset: https://www.globalfinancialinfo.info/global-economy · Free to print and share for non-commercial classroom use (CC BY-NC-ND 4.0).

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