2010
28 January, 11 March, 22 April, 3 June, 15 July, 26 August, 07 October, 18 November, 29 December
The Monetary Board decided to keep the BSP’s key policy interest rates steady at 4 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also left unchanged.
2009
01 October, 05 November, 17 December
The Monetary Board decided to keep the BSP’s key policy interest rates steady at 4 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also left unchanged.
20 August
The Monetary Board decided to keep the BSP’s key policy interest rates steady at 4 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also left unchanged. The decision to maintain the monetary policy stance comes after a series of policy rate cuts since December 2008 totaling 200 basis points and other liquidity enhancing measures.
09 July
The Monetary Board decided to reduce the BSP's key policy interest rates by 25 basis points to 4 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6 percent for the overnight lending or repurchase (RP) facility, effective immediately. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were reduced accordingly. This is the sixth time since December 2008 that the BSP has cut its policy interest rates.
28 May
The Monetary Board decided to reduce the BSP’s key policy interest rates by another 25 basis points to 4.25 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6.25 percent for the overnight lending or repurchase (RP) facility, effective immediately. This is the fifth rate cut since December 2008, and represents a cumulative reduction of 175 basis points in the BSP’s key policy rates. This RRP rate is the lowest since 15 May 1992. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also reduced accordingly.
16 April
The Monetary Board decided to reduce the BSP’s key policy interest rates by another 25 basis points to 4.5 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6.5 percent for the overnight lending or repurchase (RP) facility, effective immediately. This rate cut brings the cumulative reduction in the BSP’s key policy rates to 150 basis points since December last year. The current RRP rate is the lowest since 15 May 1992. Meanwhile, the interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also reduced accordingly.
05 March
The Monetary Board decided to reduce the BSP’s key policy interest rates by 25 basis points to 4.75 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6.75 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also reduced accordingly.
12 February
The Monetary Board decided to further liberalize the peso rediscounting guidelines and increase the peso rediscounting budget to P60 billion effective 2 March 2009.
29 January
The Monetary Board decided to reduce, effective immediately, the BSP’s key policy interest rates by 50 basis points to 5 percent for the overnight borrowing or reverse repurchase (RRP) facility and 7 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts (SDAs) were also adjusted accordingly.
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