00:00Starting May 8, 2025, the Banco Central non-Pilipinas, or BSP, is setting new interest rates for funds banks to borrow to aid in keeping the country's money system balanced and running smoothly.
00:11For banks borrowing in Philippine pesos, the interest rate is set at 6.73 percent for loans that last up to 90 days.
00:18For longer loans, from 91 to 180 days, this goes up slightly to 6.96 percent.
00:24For loans in U.S. dollars, the rate stays the same regardless of the loan's length from 1 to 360 days at 6.77 percent.
00:33In the meantime, for loans in Japanese yen, the interest rates start at 2.59 percent for up to 90 days, which increases to 2.64 percent for loans up to 180 days, and then to 2.69 percent for loans that go up to a year.
