.png "Philippines Deposit interest rate (%)")
| Data: | Deposit interest rate (%) | ||||||||
| Year: | 1960 - 2013 | ||||||||
| Country: | Philippines | ||||||||
| Source: | World Bank (the information in this section is direct quotation from World Bank development data) | ||||||||
| Series Code: | FR.INR.DPST | ||||||||
| Topic: | Financial Sector: Interest rates | ||||||||
| Short Definition: | 0 | ||||||||
| Long Definition: | Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. | ||||||||
| Unit of Measurement: | 0 | ||||||||
| Periodicity: | Annual | ||||||||
| Base Period: | 0 | ||||||||
| Reference Period: | 0 | ||||||||
| Aggregation method: | 0 | ||||||||
| Limitations and exceptions: | Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm. | ||||||||
| Notes from original source: | 0 | ||||||||
| General Comments: | 0 | ||||||||
| Original Source: | International Monetary Fund, International Financial Statistics and data files. | ||||||||
| Statistical concept and methodology: | Many
interest rates coexist in an economy, reflecting competitive conditions, the
terms governing loans and deposits, and differences in the position and
status of creditors and debtors. In some economies interest rates are set by
regulation or administrative fiat. In economies with imperfect markets, or
where reported nominal rates are not indicative of effective rates, it may be
difficult to obtain data on interest rates that reflect actual market
transactions. Deposit and lending rates are collected by the International
Monetary Fund (IMF) as representative interest rates offered by banks to
resident customers. The terms and conditions attached to these rates differ
by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same. |
||||||||
| Development relevance: | Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy. | ||||||||
