Interest rates

The interest rate is the minimum interest at which private banks receive loans from the Central Bank. It's simple: commercial banks take money from the Central Bank at a wholesale price, and they already set retail ones for themselves. Consequently, the rate directly affects the interest rates that banks set for granting loans.

When the interest rate starts to decline, loans become more profitable. Many businessmen and entrepreneurs begin to develop their production, and the number of purchases of average consumers is also increasing by an order of magnitude. However, the lowered interest rate accelerates inflation.

In the event that therate rises, loans become less attractive. The activity of entrepreneurs is declining, and the economy starts to slow down. It is worth noting that the increased key rate helps to avoid the risk of credit bubbles and normalizes the economy.

Central Bank

Current Rate

Next Meeting

Last Change

Federal Reserve (FED)

5.50%

Mar 19, 2024

Jul 25, 2023 (25bp)

European Central Bank (ECB)

4.50%

Apr 10, 2024

Sep 13, 2023 (25bp)

Bank of England (BOE)

5.25%

Mar 20, 2024

Aug 02, 2023 (25bp)

Swiss National Bank (SNB)

1.75%

Mar 20, 2024

Jun 21, 2023 (25bp)

Reserve Bank of Australia (RBA)

4.35%

Mar 18, 2024

Nov 06, 2023 (25bp)

Bank of Canada (BOC)

5.00%

Apr 09, 2024

Jul 11, 2023 (25bp)

Reserve Bank of New Zealand (RBNZ)

5.50%

Apr 09, 2024

May 23, 2023 (25bp)

Bank of Japan (BOJ)

-0.10%

Mar 18, 2024

Jan 28, 2016 (-20bp)

Central Bank of the Russian Federation (CBR)

16.00%

Mar 21, 2024

Dec 14, 2023 (100bp)

Reserve Bank of India (RBI)

6.50%

Apr 02, 2024

Feb 07, 2023 (25bp)

People’s Bank of China (PBOC)

3.45%

Jan 18, 2022

Aug 20, 2023 (-10bp)

Central Bank of Brazil (BCB)

11.25%

Mar 19, 2024

Jan 30, 2024 (-50bp)

Central Bank of the United Arab Emirates (CBUAE)

5.15%

Mar 24, 2022

Mar 15, 2020 (-100bp)

Norges Bank

0%

Aug 18, 2021

Mar 10, 2016 (-100bp)

Bank of Sweden (Riksbank)

4.00%

Mar 26, 2024

Sep 20, 2023 (25bp)

Central Bank of Turkey (CBRT)

45.00%

Mar 24, 2024

Jan 24, 2024 (250bp)

Hong Kong Monetary Authority (HKMA)

0.86%

Mar 24, 2022

Mar 15, 2020 (-100bp)

Bank Indonesia (BI)

6.00%

Aug 22, 2023

Oct 18, 2023 (25bp)

Bank of Israel (BOI)

4.50%

Apr 07, 2024

Dec 31, 2023 (-25bp)

Bank Negara Malaysia (BNM)

3.00%

May 08, 2024

May 02, 2023 (25bp)

Federal Reserve (FED)

5.50%Current Rate

Mar 19, 2024Next Meeting

Jul 25, 2023 (25bp)Last Change

European Central Bank (ECB)

4.50%Current Rate

Apr 10, 2024Next Meeting

Sep 13, 2023 (25bp)Last Change

Bank of England (BOE)

5.25%Current Rate

Mar 20, 2024Next Meeting

Aug 02, 2023 (25bp)Last Change

Swiss National Bank (SNB)

1.75%Current Rate

Mar 20, 2024Next Meeting

Jun 21, 2023 (25bp)Last Change

Reserve Bank of Australia (RBA)

4.35%Current Rate

Mar 18, 2024Next Meeting

Nov 06, 2023 (25bp)Last Change

Bank of Canada (BOC)

5.00%Current Rate

Apr 09, 2024Next Meeting

Jul 11, 2023 (25bp)Last Change

Reserve Bank of New Zealand (RBNZ)

5.50%Current Rate

Apr 09, 2024Next Meeting

May 23, 2023 (25bp)Last Change

Bank of Japan (BOJ)

-0.10%Current Rate

Mar 18, 2024Next Meeting

Jan 28, 2016 (-20bp)Last Change

Central Bank of the Russian Federation (CBR)

16.00%Current Rate

Mar 21, 2024Next Meeting

Dec 14, 2023 (100bp)Last Change

Reserve Bank of India (RBI)

6.50%Current Rate

Apr 02, 2024Next Meeting

Feb 07, 2023 (25bp)Last Change

People’s Bank of China (PBOC)

3.45%Current Rate

Jan 18, 2022Next Meeting

Aug 20, 2023 (-10bp)Last Change

Central Bank of Brazil (BCB)

11.25%Current Rate

Mar 19, 2024Next Meeting

Jan 30, 2024 (-50bp)Last Change

Central Bank of the United Arab Emirates (CBUAE)

5.15%Current Rate

Mar 24, 2022Next Meeting

Mar 15, 2020 (-100bp)Last Change

Norges Bank

0%Current Rate

Aug 18, 2021Next Meeting

Mar 10, 2016 (-100bp)Last Change

Bank of Sweden (Riksbank)

4.00%Current Rate

Mar 26, 2024Next Meeting

Sep 20, 2023 (25bp)Last Change

Central Bank of Turkey (CBRT)

45.00%Current Rate

Mar 24, 2024Next Meeting

Jan 24, 2024 (250bp)Last Change

Hong Kong Monetary Authority (HKMA)

0.86%Current Rate

Mar 24, 2022Next Meeting

Mar 15, 2020 (-100bp)Last Change

Bank Indonesia (BI)

6.00%Current Rate

Aug 22, 2023Next Meeting

Oct 18, 2023 (25bp)Last Change

Bank of Israel (BOI)

4.50%Current Rate

Apr 07, 2024Next Meeting

Dec 31, 2023 (-25bp)Last Change

Bank Negara Malaysia (BNM)

3.00%Current Rate

May 08, 2024Next Meeting

May 02, 2023 (25bp)Last Change