Loading…
FX BANK FORECAST · COVERAGE
Institutional FX coverage in your inbox
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 31 institutional desks. No promotion.
FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 31 institutional desks. No promotion.
Target RRP
4.75%
as of 2026-07-17
Next meeting
Aug 27
T-35d
Bangko Sentral ng Pilipinas is the central bank of the Philippines, operating under an inflation-targeting framework with a mandate to maintain price and financial stability. The Monetary Board meets six times per year on a pre-announced schedule to set the target reverse repurchase (RRP) rate, which is the policy rate.
Policy decisions are announced on the dates above. Source: official central bank schedules.
Target RRP
4.75%
As of 2026-07-17
PHP 2026 consensus
61.00
median of 3 banks
Next macro event
Inflation Rate YoY (Jul)
| Consensus |
|---|
| Previous |
|---|
| Inflation Rate YoY (Jul) | PH | Med | 6.1% | 6.4% | |
| Unemployment Rate (Jun) | PH | Med | 4.5% | 4.8% | |
| GDP Growth Rate QoQ (Q2) | PH | Med | 1.4% | 0.9% | |
| GDP Growth Rate YoY (Q2) | PH | Med | 5.2% | 2.8% |
Reports referencing BSP across covered research desks
The next Bangko Sentral ng Pilipinas (BSP) policy decision is scheduled for Aug 27. Because Bangko Sentral ng Pilipinas sets monetary policy for the PHP, its rate decisions and forward guidance are among the most important scheduled catalysts for PHP exchange rates, and sell-side FX desks reposition their PHP forecasts around each meeting. FX Bank Forecast tracks how the major investment banks' PHP targets shift before and after BSP decisions, so you can see whether the consensus is moving with the policy path or diverging from it. Watching the cross-bank reaction to each meeting is often a more durable signal than any single house call.
Bangko Sentral ng Pilipinas's policy lean is read from its most recent decisions and guidance. A more hawkish stance — biased toward higher-for-longer rates — tends to be supportive of the PHP, while a dovish, easing-biased stance tends to weigh on it, though the market reaction always depends on what was already priced in. What matters for PHP forecasting is less the stance in isolation than how it compares with what investment banks expected and how it shifts the projected rate path. FX Bank Forecast aggregates how 31 major banks read the BSP path and translates it into where the PHP consensus and its dispersion sit.
Monetary-policy expectations are one of the dominant drivers of currency moves, so Bangko Sentral ng Pilipinas's decisions — and, just as importantly, how they compare with other central banks — feed directly into where strategists set their PHP targets. Relative policy paths (the BSP versus the Fed and other majors), the pace of cuts or hikes, and the tone of guidance are the channels through which BSP actions transmit into the PHP. FX Bank Forecast compares the published PHP forecasts of 31 major investment banks side by side and shows how that consensus — and the spread of views around it — shifts as the BSP outlook evolves.