Policy rates and monetary frameworks

Last updated 12 Oct 2026 · Evidence: A = central bank or official source; B = international organisation.

1. CambodiaReserve requirements, FX intervention and an interest-rate corridor
   No policy interest rate in this frameworkAs of 12 Oct 2026

   The National Bank of Cambodia aims for price stability but says its monetary policy is constrained in a highly dollarised economy. Its main tools are reserve requirements and foreign-exchange intervention under a managed float. It also runs an interest-rate corridor: 7-day Liquidity-Providing Collateralised Operations (LPCO) as the reference rate, 7-day Negotiable Certificates of Deposit (NCD) as the floor and an overnight Marginal Lending Facility (MLF) as the ceiling.

   Source · Evidence A

   • Monetary policy: overview — National Bank of Cambodia
   • Monetary policy implementation — National Bank of Cambodia
   • Exchange rate policy — National Bank of Cambodia
2. ThailandBank of Thailand policy rate
   1.00%As of 31 Aug 2026

   One-day repurchase rate set by the BOT Monetary Policy Committee

   Source · Evidence A

   • ADB: Developing Southeast Asia, Asian Development Outlook September 2026 (2026-09-23)
3. VietnamRefinancing rate (rediscount rate 3.0%)
   4.50%As of 8 Oct 2026

   Under the 2010 Law on the State Bank of Vietnam, monetary policy tools include refinancing, interest rates, the exchange rate, reserve requirements and open market operations. The State Bank's interest-rate page, checked in October 2026, lists a refinancing rate of 4.5% and a rediscount rate of 3.0%, set by Decision 1123/QĐ-NHNN of 16 June 2023.

   Source · Evidence A

   • Interest rates (Lãi suất) — State Bank of Vietnam
   • Authority to decide national monetary policy and its tools — State Bank of Vietnam
4. LaosBank of the Lao PDR seven-day base rate
   7.00%cut from 8% on 20 August 2026As of 20 Aug 2026

   Seven-day base (policy) interest rate of the Bank of the Lao PDR (BOL)

   Source · Evidence B

   • Laotian Times: Laos Cuts 7-Day Base Interest Rate to 7% (2026-08-21)
5. Myanmar

   Being checked against the central bank’s own publications.

6. PhilippinesBSP policy rate after the 22 October 2026 meeting
   5.50%up from 5.0%As of 22 Oct 2026

   BSP target reverse repurchase (RRP) rate

   Source · Evidence B

   • Philstar: Inflation risks prompt BSP to hike rates anew (2026-10-22)
7. IndonesiaBI-Rate (October 2026 decision)
   5.75%unchanged from SeptemberAs of 21 Oct 2026

   Bank Indonesia benchmark policy rate

   Source · Evidence A

   • Bank Indonesia press release No. 28/233/DKom: BI-Rate Tetap 5,75%: Memperkuat Stabilitas, Mendorong Pertumbuhan Ekonomi (2026-10-21)
8. MalaysiaOvernight Policy Rate (BNM)
   2.75%unchangedAs of 3 Sept 2026

   Bank Negara Malaysia policy rate

   Source · Evidence A

   • Bank Negara Malaysia: Monetary Policy Statement (3 September 2026)
9. SingaporeExchange rate (NEER policy band)
   No policy interest rate in this frameworkAs of Jul 2025

   Singapore's monetary policy is exchange-rate based: under a basket, band and crawl framework, MAS manages the nominal effective exchange rate (NEER) against an undisclosed basket of currencies within a policy band, adjusting the band's slope, width and mid-point.

   Source · Evidence B

   • Singapore: 2025 Article IV Consultation (Country Report No. 25/192) — International Monetary Fund
10. BruneiCurrency board (Brunei dollar at par with the Singapore dollar)
    No policy interest rate in this frameworkAs of 12 Oct 2026

    Brunei operates a currency board arrangement. Under the Currency Interchangeability Agreement with Singapore, the Brunei dollar is pegged to the Singapore dollar at par.

    Source · Evidence A

    • Monetary policy framework — Brunei Darussalam Central Bank
11. Timor-LesteUS dollar as the official currency
    No policy interest rate in this frameworkAs of 12 Oct 2026

    Timor-Leste uses the US dollar as its official currency. The Banco Central de Timor-Leste issues centavo coins equal in value to US cents and aims at domestic price stability.

    Source · Evidence A

    • Know your money — Banco Central de Timor-Leste
    • Banco Central de Timor-Leste — Banco Central de Timor-Leste
12. Hong KongHKMA Base Rate
    4.25%up 25 bp from 4.00%As of 17 Sept 2026

    Base Rate of the Discount Window, set by a pre-set formula

    Source · Evidence B

    • on.cc (2026-09-17), reporting the HKMA announcement
13. IndiaRBI repo rate
    5.50%raised by 25 basis points from 5.25% on 7 October 2026As of 7 Oct 2026

    Policy repo rate set by the Monetary Policy Committee

    Source · Evidence B

    • Business Standard: RBI MPC raises FY27 inflation forecast to 5.2%, projects GDP growth at 7.1% (2026-10-07)

General information only. Rates change at each policy meeting: check the central bank’s latest statement before relying on a figure.

Courses for lending executives →Lending rules compared by market →