Central Bank Rates

World Interest Rates


Country Current Rate Last Change Central Bank Currency Change Date
HungaryHungary7.25 -0.50Magyar Nemzeti Bank (MNB)HUF21 May, 2024
BrazilBrazil10.50 -0.25Banco Central do Brasil (BACEN)BRL08 May, 2024
SwedenSweden3.75 -0.25Bank of Sweden (BOS)SEK08 May, 2024
Czech RepublicCzech Republic5.25 -0.50Czech National Bank (CNB)CZK02 May, 2024
ChileChile6.50 -0.75Banco Central de Chile (BCC)CLP02 Apr, 2024
TürkiyeTürkiye50.00 5.00Central Bank of the Republic of Turkey (CBRT)TRY21 Mar, 2024
MexicoMexico11.00 -0.25Banco de Mexico (Banxico)MXN21 Mar, 2024
SwitzerlandSwitzerland1.50 -0.25Swiss National Bank (SNB)CHF21 Mar, 2024
JapanJapan0.10 0.20Bank of Japan (BOJ)JPY19 Mar, 2024
IsraelIsrael4.50 -0.25Bank of Israel (BOI)ILS01 Jan, 2024
Russian FederationRussian Federation16.00 1.00Central Bank of the Russian Federation (CBR)RUB15 Dec, 2023
NorwayNorway4.50 0.25Norges Bank (NB)NOK14 Dec, 2023
AustraliaAustralia4.35 0.25Reserve Bank of Australia (RBA)AUD08 Nov, 2023
PolandPoland5.75 -0.25Narodowy Bank Polski (NBP)PLN04 Oct, 2023
DenmarkDenmark3.75 0.25Danmarks Nationalbank (DN)DKK15 Sep, 2023
EuropeEurope4.50 0.25European Central Bank (ECB)EUR14 Sep, 2023
ChinaChina3.45 -0.10People's Bank of China (PBC)CNY21 Aug, 2023
United KingdomUnited Kingdom5.25 0.25Bank of England (BOE)GBP03 Aug, 2023
United StatesUnited States5.50 0.25Federal Reserve (FED)USD26 Jul, 2023
CanadaCanada5.00 0.25Bank of Canada (BOC)CAD12 Jul, 2023
South AfricaSouth Africa8.25 0.50South African Reserve Bank (SARB)ZAR25 May, 2023
New ZealandNew Zealand5.50 0.25Reserve Bank of New Zealand (RBNZ)NZD24 May, 2023
IndiaIndia6.50 0.25Reserve Bank of India (RBI)INR08 Feb, 2023
South KoreaSouth Korea3.50 0.25Bank of Korea (BOK)KRW13 Jan, 2023


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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