19 SELECTED DOMESTIC INTEREST RATES                                                                   19 SELECTED DOMESTIC INTEREST RATES (CONT'D)                                                                    
      in percent per annum                                                                     in percent per annum                                                                    
      for periods indicated                                                                     for periods indicated                                                                    
                                                                                                                                                 
                                                                                                                                                 
  2021 2022 2023 2022     2023 2024    
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec     Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr    
                                                                                                                                                 
                       
  Treasury Bill Rates1/     Treasury Bill Rates1/    
  91 - Day         1.113       1.864     5.400       0.861      0.806        1.501       1.248       1.485       1.646      2.095        1.967       2.318      4.085       4.348      4.089     91 - Day      4.200       4.262       4.774       5.347      5.842       5.963       5.734       5.639       5.569       5.999      5.895       4.996       5.225       5.567        5.751       5.821    
  182 - Day        1.431      2.364      5.745         1.117       1.082        1.551        1.610        1.767       2.051       2.918      3.240       3.724       4.518       4.873      4.950     182 - Day       4.923       5.013      5.504       5.792       5.954     6.000      6.025      5.980      5.958        6.217      6.202       5.267      5.670      5.909       5.939       5.943    
  364 - Day       1.694      2.468      5.999       1.460       1.484        1.767       1.880        1.933       2.439      3.090       3.636  ..        4.875       5.102  ..      364 - Day      5.380      5.406       5.817      6.060      6.076      6.080       6.244        6.311       6.145       6.410       6.307       5.732       5.983      6.075       6.051      6.026    
  All Maturities       1.450      2.204       5.723        1.146        1.124       1.583       1.570        1.623      2.035       2.674       2.932      3.380       4.433       4.673       4.344     All Maturities       4.823       4.969       5.472       5.770       5.967       6.013      6.002       5.975       5.891       6.198        6.132       5.293       5.618      5.860       5.914       5.932    
         
  Time Deposit Rates2/     Time Deposit Rates2/    
  Short-term (1 Year and below)      0.458 p        1.615 p      4.190 p       0.412 p     0.400 p      0.499 p      0.455 p      0.576 p      0.765 p        1.142 p       1.768 p       2.477 p       2.914 p       3.286 p      3.688 p     Short-term (1 Year and below)        3.751 p       3.725 p       4.081 p       4.192 p      4.248 p      4.298 p       4.322 p        4.313 p       4.327 p        4.371 p       4.294 p       4.364 p       4.273 p       4.392 p       4.369 p      4.408 p    
  Long-term (above 1 Year)       1.668 p      3.636 p      4.355 p       1.526 p       1.785 p      2.240 p        3.413 p       3.013 p      3.028 p       3.326 p       3.799 p       3.832 p      4.064 p      4.029 p      4.855 p     Long-term (above 1 Year)      5.402 p       5.091 p       4.532 p       4.597 p       4.525 p       4.194 p       4.216 p      4.760 p       3.459 p      4.608 p       4.974 p       4.821 p      4.670 p       5.241 p      4.680 p        4.917 p    
         
  Savings Deposit Rates 2/,3/        0.121 p      0.269 p       1.579 p       0.126 p        0.116 p        0.121 p        0.115 p        0.118 p       0.128 p       0.143 p      0.586 p      0.748 p       0.901 p       1.042 p        1.199 p     Savings Deposit Rates 2/,3/        1.187 p       1.240 p       1.444 p        1.481 p       1.600 p        1.561 p        1.754 p       1.830 p        1.657 p       1.887 p        1.631 p        1.718 p        1.671 p       1.649 p        1.733 p  -     
         
  Bank Average Lending Rates 2/,4/     6.066 p      5.994 p       7.551 p       5.962 p       5.462 p       5.813 p      5.570 p       5.752 p        5.811 p       5.925 p      6.099 p      6.039 p       6.339 p       6.337 p       6.693 p     Bank Average Lending Rates 2/,4/      7.046 p       6.546 p       7.356 p      7.290 p      7.660 p       7.557 p      7.828 p      8.034 p       7.656 p      7.802 p      7.802 p       7.948 p        7.916 p       7.410 p        7.971 p  -     
         
  Lending Rates 2/,5/     Lending Rates 2/,5/    
  High      9.964 p    10.699 p    12.044 p     10.444 p     10.756 p     10.539 p     10.332 p    10.038 p    10.065 p    10.704 p    10.520 p     10.637 p     11.095 p      11.465 p      11.793 p     High     11.802 p      11.965 p      11.927 p      12.103 p     12.022 p      11.846 p    12.002 p    12.089 p    12.060 p     12.264 p     12.230 p      12.217 p     12.559 p      12.103 p      12.196 p     12.495 p    
  Low      5.579 p       5.691 p      7.436 p      5.289 p        5.471 p       5.493 p       5.128 p        5.134 p       5.362 p       5.342 p       5.496 p      5.859 p       6.051 p       6.738 p       6.927 p     Low      7.440 p      7.602 p       7.728 p       7.587 p       7.446 p        7.441 p        7.521 p       7.507 p       7.223 p        7.216 p        7.178 p       7.343 p       7.770 p       7.727 p      7.606 p       7.748 p    
         
  Overnight Lending Facility (OLF) Rates 6/      2.500      2.664      6.695  ..       2.500      2.500      2.500      2.500  ..   ..        3.750      4.500      4.750       5.495      5.500     Overnight Lending Facility (OLF) Rates 6/     6.000       6.441       6.519      6.750      6.750      6.750      6.750      6.750      6.750      6.750      7.000      7.000      7.000      7.000      7.000      7.000    
         
  Target Reverse Repurchase (RRP) Rate (as of end of period) 6/     2.000      5.500     6.500     2.000     2.000     2.000     2.000      2.250      2.500      3.250       3.750      4.250      4.250     5.000      5.500     Target Reverse Repurchase (RRP) Rate (as of end of period) 6/      5.500     6.000      6.250      6.250      6.250      6.250      6.250      6.250      6.250      6.500      6.500      6.500      6.500      6.500      6.500      6.500    
         
  Overnight Reverse Repurchase Rates (ON RRP) 6/     2.000       3.071        6.161     2.000     2.000     2.000     2.000      2.097      2.308       2.936      3.460       3.883      4.250       4.575      5.258     Overnight Reverse Repurchase Rates (ON RRP) 6/      5.500        5.714      6.065      6.250      6.250      6.250      6.250      6.250       6.185        6.161       6.387      6.388       6.423      6.486       6.496       6.495    
         
  Overnight Deposit Facility (ODF) Rates 6/      1.500      2.369      5.635       1.500       1.500       1.500       1.500       1.595        1.799       2.353       2.963       3.373       3.750       3.999       4.777     Overnight Deposit Facility (ODF) Rates 6/     5.000       5.219       5.579      5.750      5.750      5.750      5.750      5.750      5.750       5.793     6.000     6.000     6.000     6.000     6.000     6.000    
         
  BSP Securities 7/     BSP Securities 7/    
  28 - Day       1.770       3.342      6.664        1.721        1.751      2.003        1.934       2.252      2.698        3.231       3.821       4.283       4.966        5.713       6.326     28 - Day       6.379       6.435       6.691       6.757       6.723       6.655       6.673        6.717        6.719       6.756      6.830       6.785       6.758       6.768       6.729       6.693    
  56 - Day            6.746                                         56 - Day                         6.669       6.728       6.724       6.770       6.851       6.758       6.756       6.763        6.715      6.690    
         
  Term Deposit Facility (TDF) Rates 6/       1.753      2.920      6.538       1.748       1.703       1.952        1.947      2.042       2.424      2.902       3.618       3.932      4.585       5.262      6.087     Term Deposit Facility (TDF) Rates 6/      6.360       6.366      6.550      6.468       6.492      6.505      6.585       6.594       6.533       6.446       6.618       6.672        6.611      6.606      6.580      6.568    
         
  7 - Day        1.715       3.217       6.531        1.723       1.704       1.897        1.932      2.028       2.452       2.997       3.657       4.016       4.633       5.277       6.140     7 - Day       6.323       6.359       6.557       6.601       6.592      6.586       6.578       6.592      6.498       6.434       6.639       6.654      6.589      6.580       6.557      6.540    
         
  14 - Day       1.762      2.888       6.551        1.735         1.713        2.011        1.939      2.099      2.507       3.031      3.700      4.086      4.686        5.471       6.244     14 - Day       6.385       6.379      6.586       6.626      6.606       6.596      6.586       6.597       6.510       6.449       6.653       6.667       6.618      6.607       6.592      6.580    
         
  Interbank Call Loan Rates       1.626      3.282      6.297  ..         1.997       1.890       1.875       1.875        2.371      3.052       3.273        3.971       4.234      4.604       5.326     Interbank Call Loan Rates       5.516       5.810        6.319       6.362      6.400       6.324        6.313       6.318       6.293       6.221      6.406       6.410      6.480      6.500      6.500       6.515    
                                                                                                                                             
                                                                                         
  1/ Monthly treasury bill (T-bill) rates were computed based on the auction date by Bangko Sentral ng Pilipinas (BSP) staff, which differs from the monthly T-bill rates based on the issue date as computed by the Bureau of the Treasury (BTr).      1/ Monthly treasury bill (T-bill) rates were computed based on the auction date by Bangko Sentral ng Pilipinas (BSP) staff, which differs from the monthly T-bill rates based on the issue date as computed by the Bureau of the Treasury (BTr).     
  2/ Starting 1 January 2020, universal and commercial banks (UK/Bs) are required to submit the amended reporting templates on banks' lending and deposit rates or Interest Rates on Loans and Deposits (IRLD) in accordance with Circular Nos. 1029 and 1037, series of 2019. Data are preliminary estimates as of 10 May 2024 given the ongoing refinements of the IRLD reporting system. Bank submissions with interest rates of 100% and above were excluded per account code from the computation per the Department of Supervisory Analytics (DSA) and Supervisory Policy and Research Department's (SPRD) definition of outliers.     2/ Starting 1 January 2020, universal and commercial banks (UK/Bs) are required to submit the amended reporting templates on banks' lending and deposit rates or Interest Rates on Loans and Deposits (IRLD) in accordance with Circular Nos. 1029 and 1037, series of 2019. Data are preliminary estimates as of 10 May 2024 given the ongoing refinements of the IRLD reporting system. Bank submissions with interest rates of 100% and above were excluded per account code from the computation per the Department of Supervisory Analytics (DSA) and Supervisory Policy and Research Department's (SPRD) definition of outliers.    
         
  3/ Refers to the interest rate based on reporting UK/Bs' interest expense and outstanding peso-denominated deposits. There is a break in the series beginning August 2022 given data updates. The series will be linked once data prior to August 2022 become available.        
  4/ Refers to the interest rate based on reporting UK/Bs' interest income and outstanding peso-denominated loans     3/ Refers to the interest rate based on reporting UK/Bs' interest expense and outstanding peso-denominated deposits. There is a break in the series beginning August 2022 given data updates. The series will be linked once data prior to August 2022 become available.    
  5/ Refers to the average of UK/Bs' reported quoted or indicative high/low lending rates     4/ Refers to the interest rate based on reporting UK/Bs' interest income and outstanding peso-denominated loans    
  6/ On 3 June 2016, the BSP adopted the interest rate corridor (IRC) to guide short-term market rates towards the BSP policy interest rate, which is the overnight RRP rate. The interest rates for the standing liquidity facilities–the OLF and the ODF, form the corridor's upper and lower bound, respectively. In addition, the TDF serves as the main tool for absorbing liquidity. On 8 September 2023, the BSP shifted to a variable-rate format with a pre-determined offer volume in the auction for the overnight RRP facility. In this regard, the BSP signals its monetary policy stance through the Target RRP rate, which was kept at 6.50 percent in the last Monetary Policy meeting on 8 April 2024. Also, the BSP introduced a formal operational target–the ON RRP rate. An operational target is a market-determined, short-term interest rate that central banks can guide on a day-to-day basis using their monetary instruments to reflect the prevailing monetary policy stance.     5/ Refers to the average of UK/Bs' reported quoted or indicative high/low lending rates    
      6/ On 3 June 2016, the BSP adopted the interest rate corridor (IRC) to guide short-term market rates towards the BSP policy interest rate, which is the overnight RRP rate. The interest rates for the standing liquidity facilities–the OLF and the ODF, form the corridor's upper and lower bound, respectively. In addition, the TDF serves as the main tool for absorbing liquidity. On 8 September 2023, the BSP shifted to a variable-rate format with a pre-determined offer volume in the auction for the overnight RRP facility. In this regard, the BSP signals its monetary policy stance through the Target RRP rate, which was kept at 6.50 percent in the last Monetary Policy meeting on 8 April 2024. Also, the BSP introduced a formal operational target–the ON RRP rate. An operational target is a market-determined, short-term interest rate that central banks can guide on a day-to-day basis using their monetary instruments to reflect the prevailing monetary policy stance.    
         
  7/ Beginning 18 September 2020, the BSP has offered BSP Securities as part of its initiative to shift to more market-based monetary operations. The inclusion of BSP Securities issuance in the standard monetary operations of the BSP provides an additional instrument for managing liquidity in the financial system and support the implementation of monetary policy under the IRC framework. On 30 June 2023, the BSP started offering 56-day BSP Bills. The introduction of the 56-day BSP Bill expands the range of BSP’s term instruments and increases the BSP’s flexibility to respond to changing liquidity conditions while providing additional guidance to short-term market interest rates.         
         
      7/ Beginning 18 September 2020, the BSP has offered BSP Securities as part of its initiative to shift to more market-based monetary operations. The inclusion of BSP Securities issuance in the standard monetary operations of the BSP provides an additional instrument for managing liquidity in the financial system and support the implementation of monetary policy under the IRC framework. On 30 June 2023, the BSP started offering 56-day BSP Bills. The introduction of the 56-day BSP Bill expands the range of BSP’s term instruments and increases the BSP’s flexibility to respond to changing liquidity conditions while providing additional guidance to short-term market interest rates.     
         p/       Preliminary        
         r/       Revised        
        ..       No Transaction/No Quotation/No Issue            p/       Preliminary    
        ...      Blank           ...      Blank    
  Sources: BSP and BTr             -      Not available    
                                                                        Sources: BSP and BTr