The benchmark interest rate in the United States was last recorded at 4.25 percent. This dataset provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The U.S. federal funds rate peaked in 2023 at its highest level since the 2007-08 financial crisis, reaching 5.33 percent by December 2023. A significant shift in monetary policy occurred in the second half of 2024, with the Federal Reserve implementing regular rate cuts. By December 2024, the rate had declined to 4.48 percent. What is a central bank rate? The federal funds rate determines the cost of overnight borrowing between banks, allowing them to maintain necessary cash reserves and ensure financial system liquidity. When this rate rises, banks become more inclined to hold rather than lend money, reducing the money supply. While this decreased lending slows economic activity, it helps control inflation by limiting the circulation of money in the economy. Historic perspective The federal funds rate historically follows cyclical patterns, falling during recessions and gradually rising during economic recoveries. Some central banks, notably the European Central Bank, went beyond traditional monetary policy by implementing both aggressive asset purchases and negative interest rates.

View monthly updates and historical trends for Effective Federal Funds Rate. from United States. Source: Federal Reserve. Track economic data with YCharts…

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Median (FEDTARMD) from 2025 to 2028 about projection, federal, median, rate, and USA.

The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-10-26 about federal, interest rate, interest, rate, and USA.

The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March, and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year, before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged until September 2025, when another cut set the rate at 4.22 percent. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate - from 1.58 percent in February 2020 to 0.05 percent by April - mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

The benchmark interest rate in Russia was last recorded at 16.50 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The U.S. bank prime loan rate has undergone significant fluctuations over the past three decades, reflecting broader economic trends and monetary policy decisions. From a high of 10.1 percent in 1990, the rate has seen periods of decline, stability, and recent increases. As of July 2025, the prime rate stood at 7.5 percent, marking a notable rise from the historic lows seen in the early 2020s. Federal Reserve's impact on lending rates The prime rate's trajectory closely mirrors changes in the federal funds rate, which serves as a key benchmark for the U.S. financial system. In 2023, the Federal Reserve implemented a series of rate hikes, pushing the federal funds target range to 5.25-5.5 percent by year-end. This was followed by several rate cuts in 2024, with the target range standing at 4.25 to 4.5 percent in December 2024. The aggressive monetary tightening in 2023 was aimed at combating rising inflation, and its effects rippled through various lending rates, including the prime rate. Long-term investment outlook While short-term rates have risen, long-term investment yields have also seen changes. The 10-year U.S. Treasury bond, a benchmark for long-term interest rates, showed an average market yield of 2.13 percent in the second quarter of 2024, adjusted for constant maturity and inflation. This figure represents a recovery from negative real returns seen in 2021, reflecting shifting expectations for economic growth and inflation. The evolving yield environment has implications for both borrowers and investors, influencing decisions across the financial landscape.

View market daily updates and historical trends for US Discount Rate. from United States. Source: Federal Reserve. Track economic data with YCharts analyt…

The benchmark interest rate In the Euro Area was last recorded at 2.15 percent. This dataset provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-10-23 about 15-year, mortgage, fixed, interest rate, interest, rate, and USA.

In June 2024, the European Central Bank (ECB) lowered its deposit facility interest rate for the first time in over two years, marking a shift in its monetary policy stance. This move was followed by a gradual adjustment, with the rate reaching 3.25 percent six months later. By December 2024, the ECB implemented an additional rate cut, bringing the rate down to three percent. In the first half of 2025, the ECB implemented four further cuts, setting the rate at two percent in June 2025. These reductions came after a prolonged period of steady rate increases, signaling a measured response to evolving economic conditions and a potential recalibration of its approach to support growth and stability.

From 2003 to 2025, the central banks of the United States, United Kingdom, and European Union exhibited remarkably similar interest rate patterns, reflecting shared global economic conditions. In the early 2000s, rates were initially low to stimulate growth, then increased as economies showed signs of overheating prior to 2008. The financial crisis that year prompted sharp rate cuts to near-zero levels, which persisted for an extended period to support economic recovery. The COVID-19 pandemic in 2020 led to further rate reductions to historic lows, aiming to mitigate economic fallout. However, surging inflation in 2022 triggered a dramatic policy shift, with the Federal Reserve, Bank of England, and European Central Bank significantly raising rates to curb price pressures. As inflation stabilized in late 2023 and early 2024, the ECB and Bank of England initiated rate cuts by mid-2024, and the Federal Reserve also implemented its first cut in three years, with forecasts suggesting a gradual decrease in all major interest rates between 2025 and 2026. Divergent approaches within the European Union While the ECB sets a benchmark rate for the Eurozone, individual EU countries have adopted diverse strategies to address their unique economic circumstances. For instance, Hungary set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by October 2024. In contrast, Sweden implemented more aggressive cuts, lowering its rate to two percent by June 2025, the lowest among EU members. These variations highlight the complex economic landscape that European central banks must navigate, balancing inflation control with economic growth support. Global context and future outlook The interest rate changes in major economies have had far-reaching effects on global financial markets. Government bond yields, for example, reflect these policy shifts and investor sentiment. As of December 2024, the United States had the highest 10-year government bond yield among developed economies at 4.59 percent, while Switzerland had the lowest at 0.27 percent. These rates serve as important benchmarks for borrowing costs and economic expectations worldwide.

The benchmark interest rate in Brazil was last recorded at 15 percent. This dataset provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Between January 2018 and July 2025, Germany's inflation rate experienced significant volatility. Initially fluctuating between 0.3 and 3.1 percent, the rate escalated dramatically, reaching a peak of 10.4 percent in October 2022. By September 2024, the inflation rate had moderated to 1.6 percent. However, inflation began rising again towards the end of 2024, standing at 2.6 percent in December. In the first half of 2025, inflation remained relatively stable, standing at two percent in June 2025. The European Central Bank (ECB) responded to these inflationary pressures with a series of interest rate adjustments. After maintaining historically low rates, the ECB initiated its first rate hike since March 2016 in July 2022, raising the rate to 0.5 percent. The interest rate continued to increase, stabilizing at 4.5 percent from September 2023 to June 2024. In a notable shift, June 2024 marked the first rate cut during this period. It was followed by a series of rate cuts until the end of the year, with the last cut in 2024 setting the rate at 3.15 percent. Several further cuts were implemented in the first half of 2025, setting the rate at 2.15 percent in June 2025.

The benchmark interest rate in Sweden was last recorded at 1.75 percent. This dataset provides the latest reported value for - Sweden Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

View market daily updates and historical trends for Secured Overnight Financing Rate. from United States. Source: Federal Reserve Bank of New York. Track …

Key information about Thailand Policy Rate

• Thailand cash rate (Policy Rate: Month End) was set at 2.00 % pa in Feb 2025, compared with 2.25 % pa in the previous Jan 2025.
• Thailand Policy Rate averaged 1.75 % pa and is updated monthly, available from May 2000 to Feb 2025.
• The data reached an all-time high of 5.00 % pa in Dec 2006 and a record low of 0.50 % pa in Jul 2022.

The 14-Day RP Rate was used as a policy interest rate up until 16 January 2007 and after that the policy interest rate was switched to the 1-Day RP Rate. Since 12 February 2008, with the closure of the BOT-run RP market, policy rate was switched to the 1-Day Bilateral RP Rate.


Related information about Thailand Policy Rate

• In the latest reports, Thailand Short Term Interest Rate: Month End: BIBOR 3 Months was reported at 2.15 % pa in Feb 2025.
• Its Long Term Interest Rate (Long Term Interest Rate: Month End: Thailand: Government Bond Yield: 10 Years) was reported at 2.30 % pa in Jan 2025.
• Thailand Exchange Rate against USD averaged 34.91 (USD/THB) in Jun 2023.
• Its Real Effective Exchange Rate was 124.26 in Dec 2024.

Key information about South Africa Policy Rate

• South Africa cash rate (Policy Rate: Month End: Repo Rate) was set at 7.50 % pa in Feb 2025, compared with 7.50 % pa in the previous Jan 2025.
• South Africa Policy Rate averaged 7.00 % pa and is updated monthly, available from Nov 1999 to Feb 2025.
• The data reached an all-time high of 13.50 % pa in May 2003 and a record low of 3.50 % pa in Oct 2021.

Related information about South Africa Policy Rate

• In the latest reports, South Africa Short Term Interest Rate: Month End: Treasury Bills Rate: 91 Days was reported at 7.41 % pa in Feb 2025.
• Its Long Term Interest Rate (Government Bond Yield: Month End: 10 Years and Over) was reported at 10.52 % pa in Feb 2025.
• South Africa Exchange Rate against USD averaged 18.74 (USD/ZAR) in Jun 2023.
• Its Real Effective Exchange Rate was 89.35 in Dec 2024.