Central Bank Rates

World Interest Rates


Country Current Rate Last Change Central Bank Currency Change Date
ChileChile0.50 -0.50Banco Central de Chile (BCC)CLP31 Mar, 2020
CanadaCanada0.25 -0.50Bank of Canada (BOC)CAD27 Mar, 2020
IndiaIndia4.40 -0.75Reserve Bank of India (RBI)INR27 Mar, 2020
Czech RepublicCzech Republic1.00 -0.75Czech National Bank (CNB)CZK26 Mar, 2020
MexicoMexico6.50 -0.50Banco de Mexico (Banxico)MXN20 Mar, 2020
NorwayNorway0.25 -1.25Norges Bank (NB)NOK20 Mar, 2020
South AfricaSouth Africa5.25 -1.00South African Reserve Bank (SARB)ZAR19 Mar, 2020
AustraliaAustralia0.25 -0.25Reserve Bank of Australia (RBA)AUD19 Mar, 2020
United KingdomUnited Kingdom0.10 -0.15Bank of England (BOE)GBP19 Mar, 2020
BrazilBrazil3.75 -0.50Banco Central do Brasil (BACEN)BRL18 Mar, 2020
TurkeyTurkey9.75 -1.00Central Bank of the Republic of Turkey (CBRT)TRY17 Mar, 2020
South KoreaSouth Korea0.75 -0.50Bank of Korea (BOK)KRW16 Mar, 2020
New ZealandNew Zealand0.25 -0.75Reserve Bank of New Zealand (RBNZ)NZD16 Mar, 2020
United StatesUnited States0.25 -1.00Federal Reserve (FED)USD15 Mar, 2020
ChinaChina4.05 -0.10People's Bank of China (PBC)CNY20 Feb, 2020
Russian FederationRussian Federation6.00 -0.25Central Bank of the Russian Federation (CBR)RUB07 Feb, 2020
SwedenSweden0.00 0.25Bank of Sweden (BOS)SEK19 Dec, 2019
IsraelIsrael0.25 0.15Bank of Israel (BOI)ILS26 Nov, 2018
IndonesiaIndonesia6.50 -0.25Bank Indonesia (BI)IDR16 Jun, 2016
HungaryHungary0.90 -0.15Magyar Nemzeti Bank (MNB)HUF24 May, 2016
EuropeEurope0.00 -0.05European Central Bank (ECB)EUR10 Mar, 2016
JapanJapan-0.10 -0.10Bank of Japan (BOJ)JPY01 Feb, 2016
PolandPoland1.50 -0.50Narodowy Bank Polski (NBP)PLN04 Mar, 2015
DenmarkDenmark0.05 -0.15Danmarks Nationalbank (DN)DKK19 Jan, 2015
SwitzerlandSwitzerland-0.75 -0.25Swiss National Bank (SNB)CHF15 Jan, 2015

FP Markets

FP Markets


Central Bank rate is the rate of interest which a central bank charges on the loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country and has changed over time in some countries as the mechanism used to manage the rate have changed.

Whenever a bank has a shortage of funds, they can typically borrow from the central bank based on the monetary policy of the country.

The borrowing is commonly done via repos, where the repo rate is the rate at which the central bank lends short-term money to the banks against securities. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases, borrowing from the central bank becomes more expensive. It is more applicable when there is a liquidity crunch in the market.

In contrast, the reverse repo rate is the rate at which banks can park surplus funds with reserve bank. This is mostly done when there is surplus liquidity in the market as a high reverse repo rate will make it attractive to banks to park surplus funds with the central bank.

The interest rate that is charged by a country’s central or federal bank on loans and advances controls the money supply in the economy and the banking sector. This is typically done on a quarterly basis to control inflation and to stabilize the country’s exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country’s economy. For instance, the prices in stock markets tend to react to interest rate changes. A change in bank rates affects customers as it influences prime interest rates for the personal loan.

Source: Wikipedia

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