Interest rates for major world currencies
Any country has its own interest rates of central banks. These rates define the general level of rates for credits in financial institutions of a country. That, in its turn defines profitability of deposits in commercial banks and securities. The higher the rates are in the country the more it is profitable to hold assets in the currency and financial obligations of that country. Other things being equal it all leads to extension of purchases of the national currency by investors and to the growth of its quotation.
Monetary policy of a central bank must be adequate to the economic condition (current and future) in the country it should aggressively react to the growth/collapse of inflation indicators on the on hand and on the other hand react to the growth/fall of economy itself. The market is not interested in artificially overrated volume of rates in the country where unbalanced money and credit policy of government leads to potential default or recession of economics.
| country | rate | date | increase | decrease | value (in percent) |
|---|---|---|---|---|---|
USA |
Federal Funds | 16.12.08 |
... | 75 | 0.25 |
| Discount rate | ... | 25 | 0.5 | ||
| UK | Repo rate | 08.01.09 | ... | 50 | 1.5 |
EU(15) |
Refinancing tender | 04.12.08 | ... | 75 | 2.5 |
| Deposit rate | 18.12.08 | ... | 50 | 1.5 | |
| Marginal lending rate | 04.12.08 | ... | 75 | 3 | |
Japan |
Discount rate | 19.12.08 |
... | 20 | 0.3 |
| Overnight call rate target | ... | 20 | 0.1 | ||
| Switzerland |
3 month LIBOR range | 11.12.08 | ... | 50 | 0.0 - 1.0 |
Canada |
Overnight rate target | 09.12.08 |
... | 75 | 1.50 |
| Bank rate | ... | 75 | 1.75 | ||
| Australia | Cash rate | 02.12.08 | ... | 100 | 4.25 |
| New Zealand | Official cash rate | 04.12.08 | .... |
150 | 5 |