MANILA, April 22 (Reuters) - Policy changes by the Philippine
central bank since 2002.
Each move is measured in basis points (bps), which are one-hundredths of a percentage point:
Date Change in Other measures
borrowing rate
April 22, 2010 - Steady at 4.00 Cuts budget for s-term
peso rediscounting window
March 11, 2010 - Steady at 4.00 Cuts budget for s-term
peso rediscounting window
Jan 28, 2010 - Steady at 4.00 Raises rate on s-term
peso rediscounting window
Dec 17, 2009 - Steady at 4.00
Nov 5, 2009 - Steady at 4.00
Oct 1, 2009 - Steady at 4.00
Aug 20, 2009 - Steady at 4.00
July 9, 2009 - Cut 25 to 4.00
May 28, 2009 - Cut 25 to 4.25
April 16, 2009 - Cut 25 to 4.50
March 5, 2009 - Cut 25 to 4.75
Jan. 29, 2009 - Cut 50 to 5.00
Dec. 18, 2008 - Cut 50 to 5.50
Nov. 7, 2008 - Bank regular reserve
requirements cut by
2 pct points to 19 pct
Aug. 28, 2008 - Raised 25 to 6.00
July 17, 2008 - Raised 50 to 5.75
June 5, 2008 - Raised 25 to 5.25
March 13, 2008 Removes 2-,3-,6-mth
tenors of SDA window,
cut rates in remaining
maturities
Jan. 31, 2008 - Cut 25 to 5.00
Dec. 20, 2007 - Cut 25 to 5.25
Nov. 15, 2007 - Cut 25 to 5.50
Oct. 4, 2007 - Cut 25 to 5.75
July 12, 2007 - Cut 150 to 6.00
Removes tiering scheme*
on overnight placements
with central bank
April 19, 2007 -Widens availability of
SDA window to include
-Widens availability of
trust department of
banks
Nov. 2, 2006 Adopts tiering scheme on
banks' placements with
central bank's overnight
and SDA facilities
Oct. 20, 2005 - Raised 25 to 7.50
Sept. 22, 2005 - Raised 25 to 7.25
April 7, 2005 - Raised 25 to 7.00
Feb. 5, 2004 - Raises banks' reserve
requirements by 2 pct
points to 10 percent
Aug. 28, 2003 - Removes tiering scheme
July 2, 2003 - Cut 25 to 6.75
June 5, 2003 - Restores tiering scheme
March 19, 2003 - Removes tiering scheme,
raises banks' reserve
requirement by 1 pct
March 14, 2002 - Cut 25 to 7.00
Feb. 14, 2002 - Cut 25 to 7.25
Jan. 17, 2002 - Cut 25 to 7.50 Adopts tiering scheme
for bank's overnight
borrowing
NOTES:
* Under the tiering scheme, banks earn less interest for bigger overnight placements with the central bank. The scheme is aimed at encouraging banks to lend more, rather than park their funds, to spur economic activity.
- SDA - Special deposit account
(Reporting by Rosemarie Francisco) ((rosemarie.francisco@thomsonreuters.com; +63 2 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: PHILIPPINES ECONOMY/TIMELINE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Each move is measured in basis points (bps), which are one-hundredths of a percentage point:
Date Change in Other measures
borrowing rate
April 22, 2010 - Steady at 4.00 Cuts budget for s-term
peso rediscounting window
March 11, 2010 - Steady at 4.00 Cuts budget for s-term
peso rediscounting window
Jan 28, 2010 - Steady at 4.00 Raises rate on s-term
peso rediscounting window
Dec 17, 2009 - Steady at 4.00
Nov 5, 2009 - Steady at 4.00
Oct 1, 2009 - Steady at 4.00
Aug 20, 2009 - Steady at 4.00
July 9, 2009 - Cut 25 to 4.00
May 28, 2009 - Cut 25 to 4.25
April 16, 2009 - Cut 25 to 4.50
March 5, 2009 - Cut 25 to 4.75
Jan. 29, 2009 - Cut 50 to 5.00
Dec. 18, 2008 - Cut 50 to 5.50
Nov. 7, 2008 - Bank regular reserve
requirements cut by
2 pct points to 19 pct
Aug. 28, 2008 - Raised 25 to 6.00
July 17, 2008 - Raised 50 to 5.75
June 5, 2008 - Raised 25 to 5.25
March 13, 2008 Removes 2-,3-,6-mth
tenors of SDA window,
cut rates in remaining
maturities
Jan. 31, 2008 - Cut 25 to 5.00
Dec. 20, 2007 - Cut 25 to 5.25
Nov. 15, 2007 - Cut 25 to 5.50
Oct. 4, 2007 - Cut 25 to 5.75
July 12, 2007 - Cut 150 to 6.00
Removes tiering scheme*
on overnight placements
with central bank
April 19, 2007 -Widens availability of
SDA window to include
-Widens availability of
trust department of
banks
Nov. 2, 2006 Adopts tiering scheme on
banks' placements with
central bank's overnight
and SDA facilities
Oct. 20, 2005 - Raised 25 to 7.50
Sept. 22, 2005 - Raised 25 to 7.25
April 7, 2005 - Raised 25 to 7.00
Feb. 5, 2004 - Raises banks' reserve
requirements by 2 pct
points to 10 percent
Aug. 28, 2003 - Removes tiering scheme
July 2, 2003 - Cut 25 to 6.75
June 5, 2003 - Restores tiering scheme
March 19, 2003 - Removes tiering scheme,
raises banks' reserve
requirement by 1 pct
March 14, 2002 - Cut 25 to 7.00
Feb. 14, 2002 - Cut 25 to 7.25
Jan. 17, 2002 - Cut 25 to 7.50 Adopts tiering scheme
for bank's overnight
borrowing
NOTES:
* Under the tiering scheme, banks earn less interest for bigger overnight placements with the central bank. The scheme is aimed at encouraging banks to lend more, rather than park their funds, to spur economic activity.
- SDA - Special deposit account
(Reporting by Rosemarie Francisco) ((rosemarie.francisco@thomsonreuters.com; +63 2 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: PHILIPPINES ECONOMY/TIMELINE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.