Central Bank of the Philippines cuts rates at emergency meeting


The Central Bank of the Philippines cut its key policy rate to 2.75% at an unscheduled meeting today (April 16), in response to the Covid-19 pandemic.

The central bank’s monetary policy committee also cut the overnight lending and deposit rates by 50 basis points each. The changes, which come into effect on April 17, place rates at their lowest level since the bank adopted an interest-rate corridor system in 2016.

The central bank had previously scheduled its next monetary policy meeting for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: