Central Bank Rates

World Interest Rates

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Country Current Rate Last Change Central Bank Currency Change Date
HungaryHungary13.00 1.25Magyar Nemzeti Bank (MNB)HUF27 Sep, 2022
SwitzerlandSwitzerland0.50 0.75Swiss National Bank (SNB)CHF22 Sep, 2022
TurkeyTurkey12.00 -1.00Central Bank of the Republic of Turkey (CBRT)TRY22 Sep, 2022
United KingdomUnited Kingdom2.25 0.50Bank of England (BOE)GBP22 Sep, 2022
NorwayNorway2.25 0.50Norges Bank (NB)NOK22 Sep, 2022
South AfricaSouth Africa6.25 0.75South African Reserve Bank (SARB)ZAR22 Sep, 2022
United StatesUnited States3.25 0.75Federal Reserve (FED)USD21 Sep, 2022
SwedenSweden1.75 1.00Bank of Sweden (BOS)SEK20 Sep, 2022
Russian FederationRussian Federation7.50 -0.50Central Bank of the Russian Federation (CBR)RUB16 Sep, 2022
DenmarkDenmark0.80 0.75Danmarks Nationalbank (DN)DKK09 Sep, 2022
EuropeEurope1.25 0.75European Central Bank (ECB)EUR08 Sep, 2022
PolandPoland6.75 0.25Narodowy Bank Polski (NBP)PLN07 Sep, 2022
CanadaCanada3.25 0.75Bank of Canada (BOC)CAD07 Sep, 2022
AustraliaAustralia2.35 0.50Reserve Bank of Australia (RBA)AUD06 Sep, 2022
ChileChile10.75 1.00Banco Central de Chile (BCC)CLP06 Sep, 2022
South KoreaSouth Korea2.50 0.25Bank of Korea (BOK)KRW25 Aug, 2022
IsraelIsrael2.00 0.75Bank of Israel (BOI)ILS22 Aug, 2022
ChinaChina3.65 -0.05People's Bank of China (PBC)CNY22 Aug, 2022
New ZealandNew Zealand3.00 0.50Reserve Bank of New Zealand (RBNZ)NZD17 Aug, 2022
MexicoMexico8.50 0.75Banco de Mexico (Banxico)MXN11 Aug, 2022
IndiaIndia5.40 0.50Reserve Bank of India (RBI)INR05 Aug, 2022
BrazilBrazil13.75 0.50Banco Central do Brasil (BACEN)BRL04 Aug, 2022
Czech RepublicCzech Republic7.00 1.25Czech National Bank (CNB)CZK22 Jun, 2022
IndonesiaIndonesia6.50 -0.25Bank Indonesia (BI)IDR16 Jun, 2016
JapanJapan-0.10 -0.10Bank of Japan (BOJ)JPY01 Feb, 2016



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About

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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