Central Bank Rates

World Interest Rates

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Country Current Rate Last Change Central Bank Currency Change Date
Russian FederationRussian Federation7.50 -0.25Central Bank of the Russian Federation (CBR)RUB09 Feb, 2018
MexicoMexico7.50 0.25Banco de Mexico (Banxico)MXN08 Feb, 2018
Czech RepublicCzech Republic0.75 0.25Czech National Bank (CNB)CZK01 Feb, 2018
CanadaCanada1.25 0.25Bank of Canada (BOC)CAD17 Jan, 2018
BrazilBrazil6.75 -0.25Banco Central do Brasil (BACEN)BRL07 Jan, 2018
United StatesUnited States1.50 0.25Federal Reserve (FED)USD13 Dec, 2017
South KoreaSouth Korea1.50 0.25Bank of Korea (BOK)KRW30 Nov, 2017
United KingdomUnited Kingdom0.50 0.25Bank of England (BOE)GBP02 Nov, 2017
IndiaIndia6.00 -0.25Reserve Bank of India (RBI)INR02 Aug, 2017
South AfricaSouth Africa6.75 -0.25South African Reserve Bank (SARB)ZAR21 Jul, 2017
ChileChile2.50 -0.25Banco Central de Chile (BCC)CLP18 May, 2017
TurkeyTurkey8.00 0.50Central Bank of the Republic of Turkey (CBRT)TRY24 Nov, 2016
New ZealandNew Zealand1.75 -0.25Reserve Bank of New Zealand (RBNZ)NZD10 Nov, 2016
AustraliaAustralia1.50 -0.25Reserve Bank of Australia (RBA)AUD02 Aug, 2016
IndonesiaIndonesia6.50 -0.25Bank Indonesia (BI)IDR16 Jun, 2016
HungaryHungary0.90 -0.15Magyar Nemzeti Bank (MNB)HUF24 May, 2016
NorwayNorway0.50 -0.25Norges Bank (NB)NOK17 Mar, 2016
EuropeEurope0.00 -0.05European Central Bank (ECB)EUR10 Mar, 2016
SwedenSweden-0.50 -0.15Bank of Sweden (BOS)SEK11 Feb, 2016
JapanJapan-0.10 -0.10Bank of Japan (BOJ)JPY01 Feb, 2016
ChinaChina4.35 -0.25People's Bank of China (PBC)CNY23 Oct, 2015
PolandPoland1.50 -0.50Narodowy Bank Polski (NBP)PLN04 Mar, 2015
IsraelIsrael0.10 -0.15Bank of Israel (BOI)ILS23 Feb, 2015
DenmarkDenmark0.05 -0.15Danmarks Nationalbank (DN)DKK19 Jan, 2015
SwitzerlandSwitzerland-0.75 -0.25Swiss National Bank (SNB)CHF15 Jan, 2015



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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