BSP  RATES
in percent per annum
Indicative rates
	Target reverse repurchase (RRP) rate1
2025	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
1	..	..	..	..
2	5.75	..	..	5.75
3	5.75	5.75	5.75	5.75
4	..	5.75	5.75	5.75
5	..	5.75	5.75	..
6	5.75	5.75	5.75	..
7	5.75	5.75	5.75	5.75
8	5.75	..	..	5.75
9	5.75	..	..	..
10	5.75	5.75	5.75	5.75
11	..	5.75	5.75	5.50
12	..	5.75	5.75	..
13	5.75	5.75	5.75	..
14	5.75	5.75	5.75	5.50
15	5.75	..	..	5.50
16	5.75	..	..	5.50
17	5.75	5.75	5.75	..
18	..	5.75	5.75	..
19	..	5.75	5.75	..
20	5.75	5.75	5.75	..
21	5.75	5.75	5.75	5.50
22	5.75	..	..	5.50
23	5.75	..	..	5.50
24	5.75	5.75	5.75	5.50
25	..	5.75	5.75	5.50
26	..	5.75	5.75	..
27	5.75	5.75	5.75	..
28	5.75	5.75	5.75	5.50
29	..	…	..	5.50
30	5.75	…	..	5.50
31	5.75	…	5.75
1​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. The main policy rate set by the Monetary Board, which signals the BSP’s monetary policy stance, is now referred to as the Target RRP rate.
Source: BSP monetary policy rate announcement
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