Policy rates
Every central bank's policy rate, tied to its own decision history back to founding where one exists.
as of 2026-09-08 · 49 central banks · 11 with their own history to founding · BIS join layer
Every bank below opens its own decision history, step-charted since its first change. Or put several on one axis, in their own per cent terms.
Compare central banks →Where rates stand
Every tracked central bank, sortable by level, last move, direction or hold.
How this is measured
Level is the current policy rate (or the latest BIS-observed market rate where the bank has no policy instrument today). Trailing year reads the sign of moves over the last 365 days. The default order leads with the Fed, the ECB and the Bank of England, then every other bank by its power rank, with the ten banks superseded by the euro listed last.
| Bank ↑ | Level | Last move | Trailing year | |
|---|---|---|---|---|
 Federal Reserve | policy rate 3.625% | 2025-12-11−0.25% | cutting | |
 European Central Bank | policy rate 2.25% | 2026-06-17+0.25% | hiking | |
 Bank of England | policy rate 3.75% | 2025-12-18−0.25% | cutting | |
 People's Bank of China | policy rate 3.00% | 2025-05-20−0.10% | on hold | |
 Bank of Japan | policy rate 1.00% | 2026-06-17+0.25% | hiking | |
 Reserve Bank of India | policy rate 5.25% | 2025-12-05−0.25% | cutting | |
 Bank of Canada | policy rate 2.25% | 2025-10-30−0.25% | cutting | |
 Central Bank of Brazil | policy rate 14.00% | 2026-08-06−0.25% | cutting | |
 Reserve Bank of Australia | policy rate 4.35% | 2026-05-06+0.25% | hiking | |
 Bank of Russia | policy rate 14.00% | 2026-07-27−0.25% | cutting | |
 Bank of Korea | policy rate 3.00% | 2026-08-27+0.25% | hiking | |
 Banco de Mexico | policy rate 6.50% | 2026-05-08−0.25% | cutting | |
 Central Bank of the Republic of Turkey | policy rate 37.00% | 2026-01-23−1.00% | cutting | |
 Swiss National Bank | policy rate 0.00% | 2025-06-20−0.25% | on hold | |
 National Bank of Poland | policy rate 3.75% | 2026-03-05−0.25% | cutting | |
 Bank Indonesia | policy rate 5.75% | 2026-06-18+0.25% | mixed | |
 South African Reserve Bank | policy rate 7.00% | 2026-05-29+0.25% | mixed | |
 Bank Negara Malaysia | policy rate 2.75% | 2025-07-09−0.25% | on hold | |
 Saudi Central Bank | policy rate 4.25% | 2025-12-10−0.25% | cutting | |
 Sveriges Riksbank | policy rate 1.75% | 2025-10-01−0.25% | cutting | |
 Central Bank of Argentina | policy rate 38.00% | 2025-01-31−3.00% | market rate | |
 Bank of Thailand | policy rate 1.00% | 2026-02-25−0.25% | cutting | |
 Bank of the Republic (Colombia) | policy rate 12.00% | 2026-07-01+0.75% | hiking | |
 Hong Kong Monetary Authority | policy rate 4.00% | 2025-12-11−0.25% | cutting | |
 Norges Bank | policy rate 4.25% | 2026-05-08+0.25% | mixed | |
 Bangko Sentral ng Pilipinas | policy rate 5.00% | 2026-08-28+0.25% | mixed | |
 Danmarks Nationalbank | policy rate 1.85% | 2026-06-12+0.25% | hiking | |
 Bank of Israel | policy rate 3.50% | 2026-07-09−0.25% | cutting | |
 Reserve Bank of New Zealand | policy rate 2.75% | 2026-09-02+0.25% | mixed | |
 Czech National Bank | policy rate 3.75% | 2026-06-19+0.25% | hiking | |
 Central Bank of Chile | policy rate 4.50% | 2025-12-17−0.25% | cutting | |
 Magyar Nemzeti Bank | policy rate 5.50% | 2026-08-26−0.25% | mixed | |
 Bank Al-Maghrib | policy rate 2.25% | 2025-03-20−0.25% | on hold | |
 Central Reserve Bank of Peru | policy rate 4.25% | 2025-09-12−0.25% | cutting | |
 National Bank of Romania | policy rate 6.50% | 2024-08-08−0.25% | on hold | |
 National Bank of Serbia | policy rate 5.75% | 2024-09-12−0.25% | on hold | |
 Central Bank of Kuwait | policy rate 3.50% | 2025-12-11−0.25% | cutting | |
 Central Bank of Iceland | policy rate 8.00% | 2026-08-19+0.25% | mixed | |
 National Bank of North Macedonia | policy rate 4.25% | 2026-06-17+0.25% | mixed | |
 Deutsche BundesbankEuro since 1999 | policy rate 2.50% | 1996-04-19−0.50% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 Banque de FranceEuro since 1999 | policy rate 3.00% | 1998-12-08−0.30% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 Banca d'ItaliaEuro since 1999 | policy rate 3.00% | 1998-12-28−0.50% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 Bank of SpainEuro since 1999 | policy rate 3.00% | 1998-12-07−0.50% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 De Nederlandsche BankEuro since 1999 | policy rate 2.75% | 1997-10-10+0.25% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 National Bank of BelgiumEuro since 1999 | policy rate 4.50% | 1998-09-01−0.05% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 Oesterreichische NationalbankEuro since 1999 | policy rate 3.00% | 1998-12-04−0.20% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 Banco de PortugalEuro since 1999 | policy rate 3.25% | 1998-12-20−1.00% | Joined the euro on 1 January 1999; the ECB sets the rate since. | |
 Bank of GreeceEuro since 2001 | policy rate 3.75% | 2000-12-27−1.00% | Joined the euro on 1 January 2001; the ECB sets the rate since. | |
 Croatian National BankEuro since 2023 | policy rate 0.00% | 2022-04-07 | Joined the euro on 1 January 2023; the ECB sets the rate since. | |
Federal Reservepolicy rate 3.625%cutting2025-12-11−0.25%
European Central Bankpolicy rate 2.25%hiking2026-06-17+0.25%
Bank of Englandpolicy rate 3.75%cutting2025-12-18−0.25%
People's Bank of Chinapolicy rate 3.00%on hold2025-05-20−0.10%
Bank of Japanpolicy rate 1.00%hiking2026-06-17+0.25%
Reserve Bank of Indiapolicy rate 5.25%cutting2025-12-05−0.25%
Bank of Canadapolicy rate 2.25%cutting2025-10-30−0.25%
Central Bank of Brazilpolicy rate 14.00%cutting2026-08-06−0.25%
Reserve Bank of Australiapolicy rate 4.35%hiking2026-05-06+0.25%
Bank of Russiapolicy rate 14.00%cutting2026-07-27−0.25%
Bank of Koreapolicy rate 3.00%hiking2026-08-27+0.25%
Banco de Mexicopolicy rate 6.50%cutting2026-05-08−0.25%
Show all 49 central banks
Central Bank of the Republic of Turkeypolicy rate 37.00%cutting2026-01-23−1.00%
Swiss National Bankpolicy rate 0.00%on hold2025-06-20−0.25%
National Bank of Polandpolicy rate 3.75%cutting2026-03-05−0.25%
Bank Indonesiapolicy rate 5.75%mixed2026-06-18+0.25%
South African Reserve Bankpolicy rate 7.00%mixed2026-05-29+0.25%
Bank Negara Malaysiapolicy rate 2.75%on hold2025-07-09−0.25%
Saudi Central Bankpolicy rate 4.25%cutting2025-12-10−0.25%
Sveriges Riksbankpolicy rate 1.75%cutting2025-10-01−0.25%
Central Bank of Argentinapolicy rate 38.00%market rate2025-01-31−3.00%
Bank of Thailandpolicy rate 1.00%cutting2026-02-25−0.25%
Bank of the Republic (Colombia)policy rate 12.00%hiking2026-07-01+0.75%
Hong Kong Monetary Authoritypolicy rate 4.00%cutting2025-12-11−0.25%
Norges Bankpolicy rate 4.25%mixed2026-05-08+0.25%
Bangko Sentral ng Pilipinaspolicy rate 5.00%mixed2026-08-28+0.25%
Danmarks Nationalbankpolicy rate 1.85%hiking2026-06-12+0.25%
Bank of Israelpolicy rate 3.50%cutting2026-07-09−0.25%
Reserve Bank of New Zealandpolicy rate 2.75%mixed2026-09-02+0.25%
Czech National Bankpolicy rate 3.75%hiking2026-06-19+0.25%
Central Bank of Chilepolicy rate 4.50%cutting2025-12-17−0.25%
Magyar Nemzeti Bankpolicy rate 5.50%mixed2026-08-26−0.25%
Bank Al-Maghribpolicy rate 2.25%on hold2025-03-20−0.25%
Central Reserve Bank of Perupolicy rate 4.25%cutting2025-09-12−0.25%
National Bank of Romaniapolicy rate 6.50%on hold2024-08-08−0.25%
National Bank of Serbiapolicy rate 5.75%on hold2024-09-12−0.25%
Central Bank of Kuwaitpolicy rate 3.50%cutting2025-12-11−0.25%
Central Bank of Icelandpolicy rate 8.00%mixed2026-08-19+0.25%
National Bank of North Macedoniapolicy rate 4.25%mixed2026-06-17+0.25%
Deutsche BundesbankEuro since 1999policy rate 2.50%Joined the euro on 1 January 1999; the ECB sets the rate since.
Banque de FranceEuro since 1999policy rate 3.00%Joined the euro on 1 January 1999; the ECB sets the rate since.
Banca d'ItaliaEuro since 1999policy rate 3.00%Joined the euro on 1 January 1999; the ECB sets the rate since.
Bank of SpainEuro since 1999policy rate 3.00%Joined the euro on 1 January 1999; the ECB sets the rate since.
De Nederlandsche BankEuro since 1999policy rate 2.75%Joined the euro on 1 January 1999; the ECB sets the rate since.
National Bank of BelgiumEuro since 1999policy rate 4.50%Joined the euro on 1 January 1999; the ECB sets the rate since.
Oesterreichische NationalbankEuro since 1999policy rate 3.00%Joined the euro on 1 January 1999; the ECB sets the rate since.
Banco de PortugalEuro since 1999policy rate 3.25%Joined the euro on 1 January 1999; the ECB sets the rate since.
Bank of GreeceEuro since 2001policy rate 3.75%Joined the euro on 1 January 2001; the ECB sets the rate since.
Croatian National BankEuro since 2023policy rate 0.00%Joined the euro on 1 January 2023; the ECB sets the rate since.
Who moved this year
Live banks with at least one decision in the trailing 365 days, grouped by direction.
The longest holds
Top ten among live policy-rate banks by days since the last decision.
| Bank | Level | Hold | Since |
|---|---|---|---|
| National Bank of Romania | policy rate 6.50% | 761d | 2024-08-08 |
| National Bank of Serbia | policy rate 5.75% | 726d | 2024-09-12 |
| Bank Al-Maghrib | policy rate 2.25% | 537d | 2025-03-20 |
| People's Bank of China | policy rate 3.00% | 476d | 2025-05-20 |
| Swiss National Bank | policy rate 0.00% | 445d | 2025-06-20 |
| Bank Negara Malaysia | policy rate 2.75% | 426d | 2025-07-09 |
| Central Reserve Bank of Peru | policy rate 4.25% | 361d | 2025-09-12 |
| Sveriges Riksbank | policy rate 1.75% | 342d | 2025-10-01 |
| Bank of Canada | policy rate 2.25% | 313d | 2025-10-30 |
| Reserve Bank of India | policy rate 5.25% | 277d | 2025-12-05 |
National Bank of Romaniapolicy rate 6.50%
761d since 2024-08-08
National Bank of Serbiapolicy rate 5.75%
726d since 2024-09-12
Bank Al-Maghribpolicy rate 2.25%
537d since 2025-03-20
People's Bank of Chinapolicy rate 3.00%
476d since 2025-05-20
Swiss National Bankpolicy rate 0.00%
445d since 2025-06-20
Bank Negara Malaysiapolicy rate 2.75%
426d since 2025-07-09
Central Reserve Bank of Perupolicy rate 4.25%
361d since 2025-09-12
Sveriges Riksbankpolicy rate 1.75%
342d since 2025-10-01
Bank of Canadapolicy rate 2.25%
313d since 2025-10-30
Reserve Bank of Indiapolicy rate 5.25%
277d since 2025-12-05
Own history to founding
Eleven banks publish their own decision table back to (or near) their founding; BIS fills every other economy from its daily levels.
Bank of England
The Bank of England was founded in 1694; its Bank Rate history begins the same year.
Sveriges Riksbank
Sveriges Riksbank was founded in 1668, the world's oldest central bank; its rate history begins in 1907.
Norges Bank
Norges Bank was founded in 1816; its discount rate history begins in 1818.
Bank of Japan
The Bank of Japan was founded in 1882, with a policy rate on record from its first year.
Swiss National Bank
The Swiss National Bank was founded in 1907, with a policy rate on record from its first year.
Federal Reserve
The Federal Reserve was founded in 1913; its discount rate history begins in 1914.
Reserve Bank of New Zealand
The Reserve Bank of New Zealand was founded in 1934, with a policy rate on record from its first year.
Bank of Canada
The Bank of Canada was founded in 1935, with a policy rate on record from its first year.
Deutsche Bundesbank
The Bundesbank ran from 1948 until 1998, when it ceded rate-setting to the ECB.
Reserve Bank of Australia
The Reserve Bank of Australia was founded in 1960; its cash rate target begins in 1990.
European Central Bank
The European Central Bank was founded in 1998; its first rate was set on 1 January 1999.
Where these numbers come from
BIS central bank policy rates (CBPOL) join every economy that does not publish its own machine-readable decision table. Where a bank does, that own table is the spine: FRED for the Federal Reserve, the ECB Data Portal for the euro area, Bank of England via datahub, and each bank's own statistics, cited on its page.