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19 |
SELECTED DOMESTIC
INTEREST RATES |
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19 |
SELECTED DOMESTIC
INTEREST RATES (CONT'D) |
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in percent per annum |
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in percent per annum |
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for periods indicated |
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for periods indicated |
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2020 |
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2021 |
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2022 |
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2021 |
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2022 |
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2023 |
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Jan |
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Feb |
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Mar |
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Apr |
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May |
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Jun |
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Jul |
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Aug |
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Sep |
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Oct |
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Nov |
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Dec |
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Jan |
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Feb |
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Mar |
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Apr |
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May |
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Jun |
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Jul |
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Aug |
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Sep |
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Oct |
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Nov |
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Dec |
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Jan |
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Feb |
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Mar |
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Apr |
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Treasury Bill Rates |
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Treasury Bill Rates |
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35 - Day |
1.869 |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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35 - Day |
… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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… |
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91 - Day |
2.018 |
|
1.113 |
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1.864 |
|
0.980 |
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0.870 |
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1.208 |
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1.335 |
|
1.270 |
|
1.108 |
|
1.061 |
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1.067 |
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1.072 |
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1.103 |
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1.152 |
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1.140 |
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91 - Day |
0.861 |
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0.806 |
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1.501 |
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1.248 |
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1.485 |
|
1.646 |
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2.095 |
|
1.967 |
|
2.318 |
|
4.085 |
|
4.348 |
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4.089 |
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4.200 |
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4.262 |
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4.774 |
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5.347 |
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182 - Day |
2.261 |
|
1.431 |
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2.364 |
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1.350 |
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1.107 |
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1.489 |
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1.692 |
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1.554 |
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1.373 |
|
1.386 |
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1.406 |
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1.395 |
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1.390 |
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1.418 |
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1.436 |
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182 - Day |
1.117 |
|
1.082 |
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1.551 |
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1.610 |
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1.767 |
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2.051 |
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2.918 |
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3.240 |
|
3.724 |
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4.518 |
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4.873 |
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4.950 |
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4.923 |
|
5.013 |
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5.504 |
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5.792 |
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364 - Day |
2.422 |
|
1.694 |
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2.468 |
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1.586 |
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1.470 |
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1.889 |
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1.895 |
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1.812 |
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1.590 |
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1.607 |
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1.620 |
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1.597 |
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1.595 |
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1.623 |
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1.646 |
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364 - Day |
1.460 |
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1.484 |
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1.767 |
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1.880 |
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1.933 |
|
2.439 |
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3.090 |
|
3.636 |
|
.. |
|
4.875 |
|
5.102 |
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.. |
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5.380 |
|
5.406 |
|
5.817 |
|
6.060 |
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All Maturities |
2.223 |
|
1.450 |
|
2.204 |
|
1.364 |
|
1.198 |
|
1.608 |
|
1.718 |
|
1.600 |
|
1.363 |
|
1.351 |
|
1.364 |
|
1.362 |
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1.363 |
|
1.407 |
|
1.482 |
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All Maturities |
1.146 |
|
1.124 |
|
1.583 |
|
1.570 |
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1.623 |
|
2.035 |
|
2.674 |
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2.932 |
|
3.380 |
|
4.433 |
|
4.673 |
|
4.344 |
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4.823 |
|
4.969 |
|
5.472 |
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5.770 |
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Time Deposit Rates1 |
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Time Deposit Rates1 |
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Short-term (1 Year and below) |
1.155 |
p |
0.459 |
p |
1.614 |
p |
0.463 |
p |
0.424 |
p |
0.454 |
p |
0.468 |
p |
0.447 |
p |
0.448 |
p |
0.487 |
p |
0.474 |
p |
0.439 |
p |
0.458 |
p |
0.448 |
p |
0.494 |
p |
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|
Short-term (1 Year and below) |
0.412 |
p |
0.400 |
p |
0.499 |
p |
0.455 |
p |
0.576 |
p |
0.765 |
p |
1.141 |
p |
1.768 |
p |
2.477 |
p |
2.914 |
p |
3.286 |
p |
3.688 |
p |
|
3.751 |
p |
3.725 |
p |
- |
|
- |
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|
Long-term (above 1 Year) |
2.105 |
p |
1.668 |
p |
3.636 |
p |
1.581 |
p |
1.695 |
p |
1.597 |
p |
1.181 |
p |
1.485 |
p |
1.399 |
p |
1.856 |
p |
2.203 |
p |
1.839 |
p |
1.676 |
p |
1.620 |
p |
1.867 |
p |
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Long-term (above 1 Year) |
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 |
|
5.402 |
p |
5.091 |
p |
- |
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- |
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|
Savings Deposit Rates 1,2 |
0.201 |
p |
0.121 |
p |
0.188 |
p |
0.108 |
p |
0.116 |
p |
0.112 |
p |
0.122 |
p |
0.127 |
p |
0.096 |
p |
0.114 |
p |
0.110 |
p |
0.145 |
p |
0.145 |
p |
0.142 |
p |
0.143 |
p |
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|
Savings Deposit Rates 1,2 |
0.126 |
p |
0.116 |
p |
0.121 |
p |
0.115 |
p |
0.118 |
p |
0.128 |
p |
0.143 |
p |
0.169 |
p |
0.229 |
p |
0.274 |
p |
0.323 |
p |
0.365 |
p |
|
0.368 |
p |
0.406 |
p |
- |
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- |
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Bank Average Lending Rates 1,3 |
7.041 |
p |
6.066 |
p |
5.994 |
p |
6.132 |
p |
5.612 |
p |
6.604 |
p |
6.007 |
p |
6.602 |
p |
6.364 |
p |
6.010 |
p |
6.008 |
p |
5.965 |
p |
5.878 |
p |
5.753 |
p |
5.909 |
p |
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|
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|
Bank Average Lending Rates 1,3 |
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 |
|
7.046 |
p |
6.546 |
p |
- |
|
- |
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Lending Rates 1,4 |
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Lending Rates 1,4 |
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High |
10.485 |
p |
9.964 |
p |
10.697 |
p |
9.455 |
p |
9.516 |
p |
9.431 |
p |
9.827 |
p |
10.061 |
p |
9.800 |
p |
9.800 |
p |
9.860 |
p |
10.101 |
p |
10.302 |
p |
10.587 |
p |
10.828 |
p |
|
|
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|
High |
10.444 |
p |
10.756 |
p |
10.539 |
p |
10.332 |
p |
10.038 |
p |
10.065 |
p |
10.678 |
p |
10.520 |
p |
10.637 |
p |
11.095 |
p |
11.465 |
p |
11.793 |
p |
|
11.802 |
p |
11.965 |
p |
- |
|
- |
|
|
|
|
Low |
5.964 |
p |
5.579 |
p |
5.690 |
p |
5.543 |
p |
5.491 |
p |
5.479 |
p |
5.592 |
p |
5.619 |
p |
5.616 |
p |
5.356 |
p |
5.450 |
p |
5.876 |
p |
5.657 |
p |
5.630 |
p |
5.641 |
p |
|
|
|
|
|
Low |
5.289 |
p |
5.471 |
p |
5.493 |
p |
5.128 |
p |
5.134 |
p |
5.362 |
p |
5.331 |
p |
5.496 |
p |
5.859 |
p |
6.051 |
p |
6.738 |
p |
6.927 |
p |
|
7.440 |
p |
7.602 |
p |
- |
|
- |
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|
Overnight Lending Facility (OLF) Rates 5 |
4.063 |
|
2.500 |
|
2.664 |
|
2.500 |
|
.. |
|
2.500 |
|
2.500 |
|
.. |
|
.. |
|
2.500 |
|
.. |
|
2.500 |
|
2.500 |
|
2.500 |
|
2.500 |
|
|
|
|
|
Overnight Lending Facility (OLF) Rates 5 |
.. |
|
2.500 |
|
2.500 |
|
2.500 |
|
2.500 |
|
.. |
|
.. |
|
3.750 |
|
4.500 |
|
4.750 |
|
5.495 |
|
5.500 |
|
|
6.000 |
|
6.441 |
|
6.519 |
|
6.750 |
|
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|
Overnight Reverse Repurchase Rates (RRP) 5 |
2.733 |
|
2.000 |
|
3.071 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
|
|
|
|
Overnight Reverse Repurchase Rates (RRP) 5 |
2.000 |
|
2.000 |
|
2.000 |
|
2.000 |
|
2.097 |
|
2.308 |
|
2.936 |
|
3.460 |
|
3.883 |
|
4.250 |
|
4.575 |
|
5.258 |
|
|
5.500 |
|
5.714 |
|
6.065 |
|
6.250 |
|
|
|
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|
|
|
|
|
|
Overnight Deposit Facility (ODF) Rates 5 |
2.054 |
|
1.500 |
|
2.369 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
|
|
|
|
Overnight Deposit Facility (ODF) Rates 5 |
1.500 |
|
1.500 |
|
1.500 |
|
1.500 |
|
1.595 |
|
1.799 |
|
2.353 |
|
2.963 |
|
3.373 |
|
3.750 |
|
3.999 |
|
4.777 |
|
|
5.000 |
|
5.219 |
|
5.579 |
|
5.750 |
|
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|
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|
BSP Securities 6 |
|
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|
BSP Securities 6 |
|
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|
28 - Day |
1.844 |
|
1.770 |
|
3.342 |
|
1.642 |
|
1.658 |
|
1.908 |
|
1.854 |
|
1.776 |
|
1.802 |
|
1.787 |
|
1.741 |
|
1.720 |
|
1.773 |
|
1.776 |
|
1.865 |
|
|
|
|
|
|
28 - Day |
1.721 |
|
1.751 |
|
2.003 |
|
1.934 |
|
2.252 |
|
2.698 |
|
3.231 |
|
3.821 |
|
4.283 |
|
4.966 |
|
5.713 |
|
6.326 |
|
|
6.379 |
|
6.435 |
|
6.691 |
|
6.757 |
|
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|
Term Deposit Facility (TDF) Rates 5 |
2.241 |
|
1.753 |
|
2.920 |
|
1.662 |
|
1.637 |
|
1.799 |
|
1.823 |
|
1.750 |
|
1.797 |
|
1.777 |
|
1.736 |
|
1.736 |
|
1.762 |
|
1.763 |
|
1.870 |
|
|
|
|
|
Term Deposit Facility (TDF) Rates 5 |
1.748 |
|
1.703 |
|
1.952 |
|
1.947 |
|
2.042 |
|
2.424 |
|
2.902 |
|
3.618 |
|
3.932 |
|
4.585 |
|
5.262 |
|
6.087 |
|
|
6.360 |
|
6.366 |
|
6.550 |
|
6.624 |
|
|
|
|
|
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|
|
|
|
|
7 - Day |
2.123 |
|
1.715 |
|
3.217 |
|
1.642 |
|
1.624 |
|
1.746 |
|
1.763 |
|
1.725 |
|
1.737 |
|
1.710 |
|
1.727 |
|
1.715 |
|
1.737 |
|
1.739 |
|
1.752 |
|
|
|
|
|
|
7 - Day |
1.723 |
|
1.704 |
|
1.897 |
|
1.932 |
|
2.028 |
|
2.452 |
|
2.997 |
|
3.657 |
|
4.016 |
|
4.633 |
|
5.277 |
|
6.140 |
|
|
6.323 |
|
6.359 |
|
6.557 |
|
6.601 |
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
14 - Day |
2.042 |
|
1.762 |
|
2.888 |
|
1.660 |
|
1.651 |
|
1.854 |
|
1.800 |
|
1.746 |
|
1.803 |
|
1.774 |
|
1.732 |
|
1.744 |
|
1.777 |
|
1.770 |
|
1.827 |
|
|
|
|
|
|
14 - Day |
1.735 |
|
1.713 |
|
2.011 |
|
1.939 |
|
2.099 |
|
2.507 |
|
3.031 |
|
3.700 |
|
4.086 |
|
4.686 |
|
5.471 |
|
6.244 |
|
|
6.385 |
|
6.379 |
|
6.586 |
|
6.626 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
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|
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|
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|
|
|
|
|
|
|
|
|
|
28 - Day |
2.705 |
|
… |
|
… |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
... |
|
|
|
|
|
|
28 - Day |
... |
|
... |
|
... |
|
… |
|
… |
|
… |
|
… |
|
… |
|
… |
|
… |
|
… |
|
… |
|
|
… |
|
… |
|
… |
|
… |
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interbank Call Loan Rates |
3.537 |
|
1.626 |
|
3.282 |
|
1.688 |
|
1.312 |
|
1.571 |
|
1.560 |
|
1.906 |
|
1.750 |
|
1.761 |
|
2.000 |
|
1.688 |
|
1.682 |
|
1.830 |
|
1.955 |
|
|
|
|
|
Interbank Call Loan Rates |
.. |
|
1.997 |
|
1.890 |
|
1.875 |
|
1.875 |
|
2.371 |
|
3.052 |
|
3.273 |
|
3.971 |
|
4.234 |
|
4.604 |
|
5.326 |
|
|
5.516 |
|
5.810 |
|
6.319 |
|
6.362 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
1 |
Starting
1 January 2020, universal and commercial banks (U/KBs) 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 13
February 2023. Further, 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. |
|
|
|
|
|
1 |
Starting
1 January 2020, universal and commercial banks (U/KBs) 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 27 April
2023. Further, 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 |
Refers to the
interest rate based on reporting U/KBs' interest expense and peso-denominated
deposits |
|
|
|
|
|
2 |
Refers to the
interest rate based on reporting U/KBs' interest expense and peso-denominated
deposits |
|
|
|
3 |
Refers to the
interest rate based on reporting U/KBs' interest income and outstanding
peso-denominated loans |
|
|
|
|
|
3 |
Refers to the
interest rate based on reporting U/KBs' interest income and outstanding
peso-denominated loans |
|
|
|
4 |
Refers to the
average of U/KBs' reported quoted or indicative high/low lending rates |
|
|
|
|
|
4 |
Refers to the
average of U/KBs' reported quoted or indicative high/low lending rates |
|
|
|
5 |
Beginning
3 June 2016, the BSP shifted its monetary operations to an interest rate
corridor (IRC) system. The repurchase (RP) and Special Deposit Account (SDA)
windows have been replaced by the standing overnight lending and overnight deposit facilities,
respectively. The reverse repurchase (RRP) facility has been modified to a
purely overnight RRP. In addition, the term deposit facility (TDF) serves as
the main tool for absorbing liquidity. The Overnight Lending Facility (OLF)
and Overnight Deposit Facility (ODF) serve as the upper and lower bound,
respectively, of the IRC system. The weighted average interest rates (WAIR)
of BSP rates are based on actual transactions during the period. |
|
|
|
|
|
5 |
Beginning
3 June 2016, the BSP shifted its monetary operations to an interest rate
corridor (IRC) system. The repurchase (RP) and Special Deposit Account (SDA)
windows have been replaced by the standing overnight lending and overnight deposit facilities,
respectively. The reverse repurchase (RRP) facility has been modified to a
purely overnight RRP. In addition, the term deposit facility (TDF) serves as
the main tool for absorbing liquidity. The Overnight Lending Facility (OLF)
and Overnight Deposit Facility (ODF) serve as the upper and lower bound,
respectively, of the IRC system. The weighted average interest rates (WAIR)
of BSP rates are based on actual transactions during the period. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
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 Interest
Rate Corridor (IRC) framework. |
|
|
|
|
|
6 |
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 Interest
Rate Corridor (IRC) framework. |
|
|
|
|
|
|
|
|
|
|
|
|
|
p Preliminary |
|
|
|
|
|
|
|
|
|
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|
|
|
|
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|
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|
|
|
|
p Preliminary |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
r Revised |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
r Revised |
|
|
|
|
|
|
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|
|
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|
|
|
|
|
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|
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|
|
|
- Not Available |
|
|
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|
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|
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|
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|
|
|
|
|
|
|
|
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|
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|
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|
|
|
|
|
|
- Not Available |
|
|
|
|
|
|
|
|
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|
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|
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|
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|
|
|
|
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|
|
|
.. No Transaction/No
Quotation/No Issue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
.. No Transaction/No
Quotation/No Issue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
... Blank |
|
|
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|
|
|
|
|
|
|
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|
|
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|
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|
|
|
|
... Blank |
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|
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|
|
|
|
Sources: Bangko Sentral ng Pilipinas, Bureau
of the Treasury |
|
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|
|
Sources: Bangko Sentral ng Pilipinas, Bureau
of the Treasury |
|
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