Philippines Interest Rate — 2026 Central Bank Data & Outlook
The Philippines' central bank interest rate was 4.50% in May 2026, little changed from 4.50% the previous month. A year earlier it stood at 5.50%.
The Philippines' central bank interest rate stands at 4.50% as of May 2026. Over the latest readings, the central bank interest rate has moved within a band of 2.00% to 6.50%. The most recent figure of 4.50% is little changed from 4.50% a month earlier, and is 1.00% lower than a year ago.
The trend
Among the 168 economies tracked on this platform, Philippines ranks #124 on central bank interest rate by latest value. It was little changed from 4.50% in the previous month, and compares with a year-earlier 5.50%.
What's driving it
The policy rate is set to balance inflation against growth and employment; it rises to restrain demand and falls to support it.
Recent readings
| Period | Central bank interest rate |
|---|---|
| May 2026 | 4.50% |
| Apr 2026 | 4.50% |
| Mar 2026 | 4.25% |
| Feb 2026 | 4.25% |
| Jan 2026 | 4.50% |
| Dec 2025 | 4.50% |
| Nov 2025 | 4.75% |
| Oct 2025 | 4.75% |
Data: Source: Bank for International Settlements — central bank policy rates. Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
What Is the Central Bank Interest Rate in the Philippines (2026)?
The Philippines' central bank interest rate was 4.50% in May 2026, little changed from 4.50% the previous month. A year earlier it stood at 5.50%.
Is the central bank interest rate rising or falling in the Philippines?
It was little changed in the latest reading — 4.50% in May 2026 versus 4.50% a month earlier. Year on year it is lower.
What is central bank interest rate?
It measures the benchmark policy rate set by the central bank, which steers borrowing costs across the economy.