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Monetary Policy

Monetary Policy Decisions


2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001

2019

26 Sep

The Monetary Board decided to cut the interest rate on the BSPís overnight reverse repurchase (RRP) facility by 25 basis points (bps) to 4.0 percent, effective Friday, 27 September 2019. Accordingly, the interest rates on the overnight deposit and lending facilities were reduced to 3.5 percent and 4.5 percent, respectively.

08 Aug

The Monetary Board decided to cut the interest rate on the BSPís overnight reverse repurchase (RRP) facility by 25 basis points (bps) to 4.25 percent. Accordingly, the interest rates on the overnight deposit and lending facilities were reduced to 3.75 percent and 4.75 percent, respectively.

20 June

The Monetary Board decided to keep the interest rate on the BSP’s overnight reverse repurchase (RRP) facility unchanged at 4.50 percent. The interest rates on the overnight lending and deposit facilities were likewise held steady.

09 May

The Monetary Board decided to reduce the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 25 basis points to 4.5 percent, effective on Friday, 10 May 2019. The interest rates on the overnight lending and deposit facilities were reduced accordingly.

07 February, 21 March

The Monetary Board decided to keep the interest rate on the BSP’s overnight reverse repurchase (RRP) facility unchanged at 4.75 percent. The interest rates on the overnight lending and deposit facilities were likewise held steady.

2018

13 December

The Monetary Board decided to keep the interest rate on the BSP’s overnight reverse repurchase (RRP) facility unchanged at 4.75 percent. The interest rates on the overnight lending and deposit facilities were likewise held steady.

15 November

The Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 25 basis points to 4.75 percent, effective Friday, 16 November 2018. The interest rates on the overnight lending and deposit facilities were raised accordingly. 

27 September

The Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 50 basis points to 4.5 percent, effective Friday, 28 September 2018. The interest rates on the overnight lending and deposit facilities were raised accordingly. 

09 August

The Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 50 basis points to 4.0 percent, effective Friday, 10 August 2018. The interest rates on the overnight lending and deposit facilities were likewise raised accordingly. 

20 June

The Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 25 basis points to 3.50 percent, effective Thursday, 21 June 2018. The interest rates on the overnight lending and deposit facilities were likewise raised accordingly.

10 May

The Monetary Board decided to increase the interest rate on the BSP’s overnight reverse repurchase (RRP) facility by 25 basis points to 3.25 percent. The interest rates on the overnight lending and deposit facilities were likewise raised accordingly.

08 February, 22 March

The Monetary Board decided to maintain its policy rate, the interest rate on the BSP’s overnight reverse repurchase (RRP) facility, steady at 3.0 percent. The corresponding interest rates on the overnight lending and deposit facilities were also kept unchanged.

2017

09 February, 23 March, 11 May, 22 June, 10 August, 21 September, 14 December

The Monetary Board decided to maintain the interest rate on the BSP’s overnight reverse repurchase (RRP) facility at 3.0 percent. The corresponding interest rates on the overnight lending and deposit facilities were also kept steady. The reserve requirement ratios were likewise left unchanged.