Policy Rate

The policy interest rate is the rate set by the central bank as a short-term interest rate. It is used by the central bank to charge commercial banks when they borrow money or pay commercial banks when they deposit money with the central bank. It also serves as the lending rate between banks.

โ€œThe policy interest rate thus acts as the baseline interest rate of the economy.โ€

Federal Reserve
System ๐Ÿ‡บ๐Ÿ‡ธ

4.50%

Changed: Dec 18, 2024

European Central
Bank ๐Ÿ‡ช๐Ÿ‡บ

2.65%

Changed: Mar 6, 2025

Peopleโ€™s Bank
of China ๐Ÿ‡จ๐Ÿ‡ณ

1.50%

Changed: Sep 27, 2024

Bank of
Japan ๐Ÿ‡ฏ๐Ÿ‡ต

0.50%

Changed: Jan 24, 2025

Bank of
England ๐Ÿ‡ฌ๐Ÿ‡ง

4.50%

Changed: Feb 6, 2025

Reserve Bank of
Australia ๐Ÿ‡ฆ๐Ÿ‡บ

4.10%

Changed: Feb 19, 2025

Swiss National
Bank ๐Ÿ‡จ๐Ÿ‡ญ

0.25%

Changed: Mar 20, 2025

Bank of
Canada ๐Ÿ‡จ๐Ÿ‡ฆ

2.75%

Changed: Mar 12, 2025

Hong Kong Monetary
Authority ๐Ÿ‡ญ๐Ÿ‡ฐ

4.75%

Changed: Dec 19, 2024

Bank of
Korea ๐Ÿ‡ฐ๐Ÿ‡ท

2.75%

Changed: Feb 25, 2025

Central Bank of the
Republic of China ๐Ÿ‡น๐Ÿ‡ผ

2%

Changed: Sep 19, 2024

Bank of
Thailand ๐Ÿ‡น๐Ÿ‡ญ

2.00%

Changed: Feb 26, 2025

India ๐Ÿ‡ฎ๐Ÿ‡ณ 6.25% Feb 2025
Brazil ๐Ÿ‡ง๐Ÿ‡ท 14.25% Jan 2025
Mexico ๐Ÿ‡ฒ๐Ÿ‡ฝ 9.50% Feb 2025
Sweden ๐Ÿ‡ธ๐Ÿ‡ช 2.25% Jan 2025
Norway ๐Ÿ‡ณ๐Ÿ‡ด 4.50% Dec 2023
Indonesia ๐Ÿ‡ฎ๐Ÿ‡ฉ 5.75% Jan 2025
Philippines ๐Ÿ‡ต๐Ÿ‡ญ 5.75% Dec 2024
Vietnam ๐Ÿ‡ป๐Ÿ‡ณ 4.50% Jun 2023
Saudi Arabia ๐Ÿ‡ธ๐Ÿ‡ฆ 5% Dec 2024
UAE ๐Ÿ‡ฆ๐Ÿ‡ช 4.40% Dec 2024

The U.S. policy interest rate represents the upper bound of the Federal Funds Rate target range set by the Federal Reserve.

The Chinese policy interest rate is based on the 7-Day Reverse Repo rate, which the Peopleโ€™s Bank of China intends to use as the main policy rate instead of the Medium-Term Lending Facility (MLF).

The policy interest rates of these central banks are automatically updated every Saturday from reliable sources. However, we do not take responsibility for any errors that may occur. The content of this website is for informational purposes only and is not intended as financial advice. Any decisions you make based on the information provided are at your own risk.

Know more about the Policy Rate

  • Fundamentals of the Policy Rate
  • Impacts of Policy Rate adjustments
  • Factors leading to Central Bankโ€™s Policy Rate adjustments
Learn more about Policy Rate Central Bank Policy Rate
Learn more Central Bank Federal Reserve System

Who is Central Bank

  • Get to know the Central Bank
  • Objectives and Mandates of the Central Bank
  • Why do people care about the central bankโ€™s opinions and policies.

Subscribe Now

Stay in the loop with everything you need to know.