Policy Interest Rate (%)
The policy interest rate is an interest rate that the monetary authority (i.e. the central bank) sets in order to influence the evolution of the main monetary variables in the economy (e.g. consumer prices, exchange rate or credit expansion, among others). The policy interest rate determines the levels of the rest of the interest rates in the economy, since it is the price at which private agents-mostly private banks-obtain money from the central bank. These banks will then offer financial products to their clients at an interest rate that is normally based on the policy rate.
Different countries have different policy interest rates. The most common are the overnight lending rate, discount rate and repurchase rate (of different maturities). Normally, central banks use the policy interest rate to perform contractive or expansive monetary policy. A rise in interest rates is commonly used to curb inflation, currency depreciation, excessive credit growth or capital outflows. On the contrary, by cutting interest rates, a central bank might be seeking to boost economic activity by fostering credit expansion or currency depreciation in order to gain competitiveness.
The table below shows the policy interest rate in percentage (end of period) by country for the last five years.
Looking for forecasts? FocusEconomics Consensus Forecasts cover approx. 30 macro-economic indicators per country for a 5-year forecast period and quarterly forecasts for the most important economic variables. Get Details.
Interest Rate Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Albania | 2.25 | 1.75 | 1.25 | 1.25 | - |
| Angola | 9.00 | 11.00 | 16.00 | 18.00 | - |
| Armenia | 8.50 | 8.75 | 6.25 | 6.00 | - |
| Australia | 2.50 | 2.00 | 1.50 | 1.50 | - |
| Austria | - | - | - | - | - |
| Azerbaijan | 3.50 | 3.00 | 15.00 | 15.00 | - |
| Bangladesh | 5.00 | 5.00 | 5.00 | 5.00 | - |
| Belarus | 20.00 | 25.00 | 18.00 | 11.00 | - |
| Belgium | 0.05 | 0.05 | 0.0 | 0.0 | - |
| Bolivia | 8.00 | 7.36 | 7.82 | 7.86 | - |
| Botswana | 7.50 | 6.00 | 5.50 | 5.00 | - |
| Brazil | 11.75 | 14.25 | 13.75 | 7.00 | - |
| Brunei | 5.50 | 5.50 | 5.50 | 5.50 | - |
| Bulgaria | 0.02 | 0.01 | 0.0 | 0.0 | - |
| Cambodia | 1.42 | 1.42 | 1.44 | 1.53 | - |
| Canada | 1.00 | 0.50 | 0.50 | 1.00 | - |
| Chile | 3.00 | 3.50 | 3.50 | 2.50 | - |
| China | 5.60 | 4.35 | 4.35 | 4.35 | - |
| Colombia | 4.50 | 5.75 | 7.50 | 4.75 | - |
| Croatia | 7.00 | 3.00 | 3.00 | 3.00 | - |
| Cyprus | - | - | - | - | - |
| Czech Republic | 0.05 | 0.05 | 0.05 | 0.50 | - |
| DR Congo | - | - | - | - | - |
| Denmark | 0.20 | 0.05 | 0.05 | 0.05 | - |
| Dominican Republic | 6.25 | 5.00 | 5.50 | 5.25 | - |
| Estonia | - | - | - | - | - |
| Ethiopia | 7.50 | 7.50 | 7.50 | 7.00 | - |
| Eurozone | 0.05 | 0.05 | 0.0 | 0.0 | - |
| Finland | 0.05 | 0.05 | 0.0 | 0.0 | - |
| France | - | - | - | - | - |
| Georgia | 4.00 | 8.00 | 6.50 | 7.25 | - |
| Germany | - | - | - | - | - |
| Ghana | 21.00 | 26.00 | 25.50 | 20.00 | - |
| Greece | - | - | - | - | - |
| Guatemala | 4.00 | 3.00 | 3.00 | 2.75 | - |
| Hungary | 2.10 | 1.35 | 0.90 | 0.90 | - |
| Iceland | 4.50 | 5.75 | 5.00 | 4.25 | - |
| India | 7.50 | 6.75 | 6.25 | 6.00 | - |
| Indonesia | 7.75 | 7.50 | 4.75 | 4.25 | - |
| Ireland | - | - | - | - | - |
| Italy | - | - | - | - | - |
| Jamaica | 0.25 | 0.25 | 3.00 | 3.25 | - |
| Japan | 0.10 | 0.10 | -0.10 | -0.10 | - |
| Kazakhstan | 6.50 | 16.00 | 12.00 | 10.25 | - |
| Kenya | 8.50 | 11.50 | 10.00 | 10.00 | - |
| Korea | 2.00 | 1.50 | 1.25 | 1.50 | - |
| Laos | 6.25 | 5.63 | 5.31 | 5.00 | - |
| Latvia | - | - | - | - | - |
| Lithuania | 0.0 | 0.0 | - | - | - |
| Luxembourg | - | - | - | - | - |
| Malaysia | 3.25 | 3.25 | 3.00 | 3.00 | - |
| Malta | - | - | - | - | - |
| Mexico | 3.00 | 3.25 | 5.75 | 7.25 | - |
| Moldova | 6.50 | 19.50 | 9.00 | 6.50 | - |
| Mongolia | 12.00 | 13.00 | 14.00 | 11.00 | - |
| Mozambique | - | - | - | - | - |
| Myanmar | 10.00 | 10.00 | 10.00 | 10.00 | - |
| Netherlands | - | - | - | - | - |
| New Zealand | 3.50 | 2.50 | 1.75 | 1.75 | - |
| Nigeria | 13.00 | 11.00 | 14.00 | 14.00 | - |
| North Macedonia | 3.25 | 3.25 | 3.75 | 3.25 | - |
| Norway | 1.25 | 0.75 | 0.50 | 0.50 | - |
| Pakistan | 10.00 | 6.50 | 5.75 | 5.75 | - |
| Peru | 3.50 | 3.75 | 4.25 | 3.25 | - |
| Philippines | 4.00 | 4.00 | 3.00 | 3.00 | - |
| Poland | 2.00 | 1.50 | 1.50 | 1.50 | - |
| Portugal | - | - | - | - | - |
| Romania | 2.75 | 1.75 | 1.75 | 1.75 | - |
| Russia | 17.00 | 11.00 | 10.00 | 7.75 | - |
| Serbia | 8.00 | 4.50 | 4.00 | 3.50 | - |
| Singapore | 0.38 | 0.88 | - | - | - |
| Slovakia | - | - | - | - | - |
| Slovenia | - | - | - | - | - |
| Spain | - | - | - | - | - |
| Sri Lanka | 8.50 | 7.50 | 8.50 | 8.75 | - |
| Sweden | 0.0 | -0.35 | -0.50 | -0.50 | - |
| Switzerland | -0.25 | -0.75 | -0.75 | -0.75 | - |
| Taiwan | 1.88 | 1.63 | 1.38 | 1.38 | - |
| Tajikistan | 8.00 | 8.00 | 11.00 | 16.00 | - |
| Tanzania | 15.75 | 16.39 | 15.66 | 18.62 | - |
| Thailand | 2.00 | 1.50 | 1.50 | 1.50 | - |
| Trinidad and Tobago | 3.25 | 4.75 | 4.75 | 4.75 | - |
| Turkey | 8.25 | 7.50 | 8.00 | 8.00 | - |
| USA | 0.25 | 0.50 | 0.75 | 1.50 | - |
| Uganda | 11.00 | 17.00 | 12.00 | 9.50 | - |
| Ukraine | 14.00 | 22.00 | 14.00 | 14.50 | - |
| United Kingdom | 0.50 | 0.50 | 0.25 | 0.50 | - |
| Uzbekistan | 10.00 | 9.00 | 9.00 | 14.00 | - |
| Vietnam | 6.50 | 6.50 | 6.50 | 6.25 | - |
| Zambia | 12.50 | 15.50 | 15.50 | 10.25 | - |
Download Sample Report
Interest Rate Economic News
-
Eurozone: ECB keeps ultra-loose policy stance intact at first 2020 meeting; Lagarde launches strategic review
January 23, 2020
The European Central Bank (ECB) made no changes to its monetary policy on 23 January, keeping in place a stimulus package unveiled in September.
-
Indonesia: Bank Indonesia keeps rates unchanged in January
January 23, 2020
At its 22–23 January monetary policy meeting, Bank Indonesia (BI) left the seven-day reverse repo rate unchanged at 5.00%, as had been expected by market analysts.
-
Malaysia: Bank Negara Malaysia cuts rates at first meeting of the year
January 22, 2020
At its 21–22 January meeting, the Monetary Policy Committee of Bank Negara Malaysia (BNM) decided to lower the overnight policy rate (OPR) by 25 basis points to 2.75%, while the ceiling and floor of the OPR corridor were reduced to 3.00% and 2.50%, respectively.
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
© Copyright: 2020 | Interest Rate | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
