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Interest rates of Central Banks
USA
Federal Fund Rate
Under this interest rate (the main one in the USA) banks allocate funds which are on the account of FED to other banks on the overnight.
Discount Rate
Under this interest rate FED grants loans to maintain liquidity of banks. The decisions on changing the interest rates are made by Federal Open Market Committee (FOMC) at its meetings 8 times a year. The first and the fourth meeting are two-day (Tuesday, Wednesday). The rest ones are one-day (Tuesday).The results of the meetings are unveiled in 02.15 PM (East Time) later on the same day.
UK
Repo Rate
It is the main interest rate in the UK. Under this interest rate Bank of England (BoE) grants short-term loans for backing of securities. The decision on changing the interest rates is made by Monetary Policy Committee at monthly meetings which are held for 2 days (Wednesday, Thursday). The result is unveiled on the last day of the meeting in 12.00 (GMT).
EU
Refinancing Tender Rate
It is the main interest rate of European Central Bank (ECB). This interest rate is the minimally impossible for execution of tender on allocation of free funds made by ECB every two weeks.
Deposit Rate
The minimum interest rate under which it is possible to allocate free funds in the institutions of ECB.
Marginal Lending Rate
The maximum interest rate under which it is possible to take short-term credit in the institutions of ECB. The decision about changing the main interest rates is made by Governing Council of ECB at the meetings which are held every two weeks on Thursdays. The result is unveiled in 3:45 PM later on the same day.
Japan
Overnight Call Rate
The main interest rate of Japan. This interest rate reflects the level which Bank of Japan (BoJ) desires to “see” on the market of short-term deposits.
Discount Rate
Under this interest rate BoJ grants short-term loans to maintain liquidity if banks and other financial institutions. The decision on changing the interest rates is made by Policy Board of BoJ at Monetary Policy Meetings. The result is unveiled once the meetings have been finished.
Switzerland
3Month LIBOR Rate
The main interest rate in Switzerland. Swiss National Bank (SNB) made decision to sustain 1% range for 3-month LIBOR rate on the market of short-term interest rates. LIBOR (London Interbank Offered Rate) is an interest rate under which banks allocate loans on the credit market of London. LIBOR is set for different terms and on different banking instruments. LIBOR is fixed in 11:00 AM (GMT) daily and calculated as an average of the last 10 quotes of a seller. The decisions on changing the range and interest rates are made by Governing Council of SNB every quarter. The result is unveiled at a press-conference after the meeting has finished.
Canada
Overnight Rate Target
The main interest rate in Canada. This interest rate reflects the level which Bank of Canada desires to “see” on the market of short-term deposits. To control the interest rates Bank of Canada establishes an operational range of 0.50%. The middle of the range is the main overnight rate target.
Bank Rate
Under this interest rate Bank of Canada grants short-term loans to maintain liquidity of banks. This interest rate is the upper boundary of an operational range. The decision on changing the interest rates is made at the meetings of Governing Council of Bank of Canada. The result is unveiled later on the same day.
Australia
Cash Rate
The main interest rate in Australia. The Reserve Bank of Australia (RBA) maintains the level of the rate controlling money supply. The decisions on changing the interest rates are made at the meetings of Governing Council of Bank of Australia. The result is unveiled later on the same day.
New Zealand
Official Cash Rate
The main interest rate in New Zealand. This interest rate of the Reserve Bank of New Zealand (RBNZ) is an average level of the rate under which RBNZ grants short-term loans (higher by 0.25%) or accepts deposits (lower by 0.25%). The decisions on changing the interest rates are made at the meetings of Governing Council of the Reserve Bank of New Zealand. The result is unveiled later in the same day.
- USD United States 0.25%
- GBP United Kingdom 0.50%
- AED United Arab Emirates 1.00%
- EEK Estonia 0.05%
- DKK Denmark 0.05%
- CAD Canada 0.75%
- MXN Mexico 3.00%
- HUF Hungary 2.10%
- JOD Jordan 4.00%
- EUR European Union 0.05%
- SEK Sweden 0.00%
- SGD Singapore 0.39%
- HKD Hong Kong 0.50%
- AUD Australia 2.25%
- CHF Switzerland -0.75%
- TRY Turkey 7.75%
- HRK Croatia 5.00%
- NZD New Zealand 3.50%
- LTL Lithuania 0.30%
- NOK Norway 1.25%
- INR India 7.75%
- JPY Japan 0.00%
- CZK Czech Republic 0.05%
- RUR Russia 15.00%
- PLN Poland 2.00%
- ZAR South Africa 5.75%
- ILS Israel 0.25%
USA
Federal Fund Rate
Under this interest rate (the main one in the USA) banks allocate funds which are on the account of FED to other banks on the overnight.
Discount Rate
Under this interest rate FED grants loans to maintain liquidity of banks. The decisions on changing the interest rates are made by Federal Open Market Committee (FOMC) at its meetings 8 times a year. The first and the fourth meeting are two-day (Tuesday, Wednesday). The rest ones are one-day (Tuesday).The results of the meetings are unveiled in 02.15 PM (East Time) later on the same day.
UK
Repo Rate
It is the main interest rate in the UK. Under this interest rate Bank of England (BoE) grants short-term loans for backing of securities. The decision on changing the interest rates is made by Monetary Policy Committee at monthly meetings which are held for 2 days (Wednesday, Thursday). The result is unveiled on the last day of the meeting in 12.00 (GMT).
EU
Refinancing Tender Rate
It is the main interest rate of European Central Bank (ECB). This interest rate is the minimally impossible for execution of tender on allocation of free funds made by ECB every two weeks.
Deposit Rate
The minimum interest rate under which it is possible to allocate free funds in the institutions of ECB.
Marginal Lending Rate
The maximum interest rate under which it is possible to take short-term credit in the institutions of ECB. The decision about changing the main interest rates is made by Governing Council of ECB at the meetings which are held every two weeks on Thursdays. The result is unveiled in 3:45 PM later on the same day.
Japan
Overnight Call Rate
The main interest rate of Japan. This interest rate reflects the level which Bank of Japan (BoJ) desires to “see” on the market of short-term deposits.
Discount Rate
Under this interest rate BoJ grants short-term loans to maintain liquidity if banks and other financial institutions. The decision on changing the interest rates is made by Policy Board of BoJ at Monetary Policy Meetings. The result is unveiled once the meetings have been finished.
Switzerland
3Month LIBOR Rate
The main interest rate in Switzerland. Swiss National Bank (SNB) made decision to sustain 1% range for 3-month LIBOR rate on the market of short-term interest rates. LIBOR (London Interbank Offered Rate) is an interest rate under which banks allocate loans on the credit market of London. LIBOR is set for different terms and on different banking instruments. LIBOR is fixed in 11:00 AM (GMT) daily and calculated as an average of the last 10 quotes of a seller. The decisions on changing the range and interest rates are made by Governing Council of SNB every quarter. The result is unveiled at a press-conference after the meeting has finished.
Canada
Overnight Rate Target
The main interest rate in Canada. This interest rate reflects the level which Bank of Canada desires to “see” on the market of short-term deposits. To control the interest rates Bank of Canada establishes an operational range of 0.50%. The middle of the range is the main overnight rate target.
Bank Rate
Under this interest rate Bank of Canada grants short-term loans to maintain liquidity of banks. This interest rate is the upper boundary of an operational range. The decision on changing the interest rates is made at the meetings of Governing Council of Bank of Canada. The result is unveiled later on the same day.
Australia
Cash Rate
The main interest rate in Australia. The Reserve Bank of Australia (RBA) maintains the level of the rate controlling money supply. The decisions on changing the interest rates are made at the meetings of Governing Council of Bank of Australia. The result is unveiled later on the same day.
New Zealand
Official Cash Rate
The main interest rate in New Zealand. This interest rate of the Reserve Bank of New Zealand (RBNZ) is an average level of the rate under which RBNZ grants short-term loans (higher by 0.25%) or accepts deposits (lower by 0.25%). The decisions on changing the interest rates are made at the meetings of Governing Council of the Reserve Bank of New Zealand. The result is unveiled later in the same day.
