What a policy rate is
Each central bank sets one short-term rate that steers what banks pay each other overnight, and from there loans, deposits and bond yields. The Fed sets a target range (the table shows its top), the ECB's main signal is the deposit facility rate, and most others publish a single rate. When a bank raises its rate, holding that currency pays more, which is why decisions often move the currency within seconds.
How the table is kept
Every rate is copied from the bank's own website, linked in the last column, and the "checked" date above the table shows when we last compared them. We do not use news sites or data vendors for these numbers. If a bank decided after that date, its own page is the reference until we update.
Using the rates
The gap between two rates is the interest rate differential. It decides whether holding a forex position overnight earns or costs swap, and it is one of the slow forces behind long trends. Work out the carry of a pair with the interest rate differential calculator, and see how speculators hold each currency on currency strength today.
Questions
What is the Fed's interest rate now?
The table shows the federal funds target range from the Federal Reserve's own page, with the date it took effect.
Which central bank has the highest rate here?
Sort the table by rate. Emerging-market banks, such as the State Bank of Pakistan, usually have the highest rates; the Swiss National Bank the lowest.
Where do these numbers come from?
Only from each central bank's own website; each row links to its source page.
How often is the table updated?
After the banks' scheduled decisions. The 'checked' date shows the last comparison.
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