Download Monetary Policy Summary (PDF)

At its monetary policy meeting on 19 May 2022, the BSP decided to raise its key policy interest rate by 25 basis points to 2.25 percent for the overnight reverse repurchase (RRP) facility, effective 20 May 2022. The corresponding interest rates on the overnight deposit and lending facilities were also raised to 1.75 percent and 2.75 percent, respectively. Read more

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Download Economic Outlook (PDF)

The latest baseline forecasts indicate that inflation could settle above the government’s target range of 3.0 percent ± 1.0 ppt at 4.6 percent in 2022. For 2023, inflation is projected to average near the upper band of the target range at 3.9 percent. Read more

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Download Current Developments (PDF)

Headline inflation rose to 4.9 percent year-on-year in April 2022. This is higher than 4.0 percent in March 2022. The resulting year-to-date average inflation of 3.7 percent remains within the national government’s (NG) average inflation target range of 2.0-4.0 percent for the year. The higher inflation in April was attributed mainly to faster price increases of food, electricity, and domestic petroleum. Read more

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Download Summary of MP Decisions (PDF)




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