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Monetary Policy Decisions
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Monetary Policy Decisions

2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001

2014

19 June

The Monetary Board decided to keep the BSP's key policy rates at  3.5 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.5 percent for the overnight lending or repurchase (RP) facility.  The interest rates on term RRPs and RPs were also kept steady. The reserve requirement ratios were left unchanged as well. At the same time, the Monetary Board decided to raise the interest rate on the Special Deposit Account (SDA) facility by 25 basis points from 2.0 percent to 2.25 percent across all tenors effective immediately.

8 May

The Monetary Board decided to keep the BSP's key policy rates at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility.  The interest rates on term RRPs and RPs as well as SDAs were also kept steady. Meanwhile, the Monetary Board decided to increase the reserve requirements for universal and commercial banks as well as thrift banks by a further one percentage point effective on 30 May 2014.

27 March

The Monetary Board decided to keep the BSP's key policy rates at  3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility.  The interest rates on term RRPs and RPs as well as SDAs were also kept steady. Meanwhile, the Monetary Board decided to increase the reserve requirement by one percentage point effective on 4 April 2014.

6 February

The Monetary Board decided to keep the BSP's key policy rates at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility.  The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also kept steady. The reserve requirement ratios were left unchanged as well.

2013

13 June, 25 July, 12 September, 24 October, 12 December

The Monetary Board decided to keep the BSP's key policy rates at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility.  The interest rates on term RRPs, RPs and special deposit accounts (SDAs) were also maintained. The reserve requirement ratios were held steady as well.

25 April

The Monetary Board decided to maintain the BSP's key policy interest rates at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility.  The reserve requirement ratios were kept steady as well. Meanwhile, the Monetary Board further reduced the interest rates on the Special Deposit Account (SDA) facility by 50 basis points to 2.0 percent across all tenors, effective immediately.

14 March

The Monetary Board decided to maintain the BSP's key policy interest rate at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility. At the same time, it kept the rate for the overnight lending or repurchase (RP) facility at 5.50 percent. It also decided to set the interest rate on RRPs at 3.50 percent for all tenors. Following its previous decision to rationalize the Special Deposit Account (SDA) facility in January, the Monetary Board further reduced the interest rates on the SDA facility by 50 basis points to 2.50 percent across all tenors effective immediately. Meanwhile, the reserve requirement ratios were kept steady.

24 January

The Monetary Board decided to maintain the BSP's key policy interest rates at 3.50 percent for the overnight borrowing or reverse repurchase (RRP) facility and 5.50 percent for the overnight lending or repurchase (RP) facility.  The interest rates on term RRPs and RPs were also maintained accordingly. The reserve requirement ratios were kept steady as well.

 

 

 

 

 
 
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