AMRO：2025年菲律宾货币政策传导的及时性和敏感性报告（英文版）

Since the introduction of an interest rate corridor in 2016, the Philippines has improved monetary policy transmission, with short-term market rates responding more quickly to policy rate changes. However, transmission remains slow and limited for long-term bond yields, deposit rates, and bank lending rates—especially for MSME and consumer loans. This underscores the need for further reforms, including strengthening credit information systems to actively integrate them into banks’ lending pra