The benchmark interest rate in the United States was last recorded at 4.50 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.

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 2.25 percent by February 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.

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint (FEDTARRM) from 2025 to 2027 about projection, federal, rate, and USA.

Policy interest rates in the U.S. and Europe are forecasted to decrease gradually between 2024 and 2027, following exceptional increases triggered by soaring inflation between 2021 and 2023. The U.S. federal funds rate stood at **** percent at the end of 2023, the European Central Bank deposit rate at **** percent, and the Swiss National Bank policy rate at **** percent. With inflationary pressures stabilizing, policy interest rates are forecast to decrease in each observed region. The U.S. federal funds rate is expected to decrease to *** percent, the ECB refi rate to **** percent, the Bank of England bank rate to **** percent, and the Swiss National Bank policy rate to **** percent by 2025. An interesting aspect to note is the impact of these interest rate changes on various economic factors such as growth, employment, and inflation. The impact of central bank policy rates The U.S. federal funds effective rate, crucial in determining the interest rate paid by depository institutions, experienced drastic changes in response to the COVID-19 pandemic. The subsequent slight changes in the effective rate reflected the efforts to stimulate the economy and manage economic factors such as inflation. Such fluctuations in the federal funds rate have had a significant impact on the overall economy. The European Central Bank's decision to cut its fixed interest rate in June 2024 for the first time since 2016 marked a significant shift in attitude towards economic conditions. The reasons behind the fluctuations in the ECB's interest rate reflect its mandate to ensure price stability and manage inflation, shedding light on the complex interplay between interest rates and economic factors. Inflation and real interest rates The relationship between inflation and interest rates is critical in understanding the actions of central banks. Central banks' efforts to manage inflation through interest rate adjustments reveal the intricate balance between economic growth and inflation. Additionally, the concept of real interest rates, adjusted for inflation, provides valuable insights into the impact of inflation on the economy.

The benchmark interest rate in India was last recorded at 5.50 percent. This dataset provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Australia was last recorded at 3.85 percent. This dataset provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Interest Rates, Discount Rate for United States (INTDSRUSM193N) from Jan 1950 to Aug 2021 about discount, interest rate, interest, rate, and USA.

United States Interest Rates: 12 Months Expectation: Lower data was reported at 21.400 % in Apr 2025. This records a decrease from the previous number of 23.300 % for Mar 2025. United States Interest Rates: 12 Months Expectation: Lower data is updated monthly, averaging 12.100 % from Jun 1987 (Median) to Apr 2025, with 455 observations. The data reached an all-time high of 45.800 % in Jan 1991 and a record low of 5.200 % in Jun 2018. United States Interest Rates: 12 Months Expectation: Lower data remains active status in CEIC and is reported by The Conference Board. The data is categorized under Global Database’s United States – Table US.H051: Consumer Confidence Index: Interest Rate Expectation. [COVID-19-IMPACT]

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.

View data of the Effective Federal Funds Rate, or the interest rate depository institutions charge each other for overnight loans of funds.

Graph and download economic data for 10-Year Real Interest Rate (REAINTRATREARAT10Y) from Jan 1982 to Jun 2025 about 10-year, interest rate, interest, real, rate, and USA.

The benchmark interest rate in Mexico was last recorded at 8 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This graph show how interest rates hikes by the U.S. Federal Reserve affect gold's price. While gold underperforms during the period leading up to rate hikes, its performance improves during the year after the interest rates increase.

Graph and download economic data for 10-Year Treasury Constant Maturity Minus Federal Funds Rate (T10YFF) from 1962-01-02 to 2025-07-11 about yield curve, spread, 10-year, maturity, Treasury, federal, interest rate, interest, rate, and USA.

United States - Federal Funds Effective Rate was 4.33% in July of 2025, according to the United States Federal Reserve. Historically, United States - Federal Funds Effective Rate reached a record high of 22.36 in July of 1981 and a record low of 0.04 in December of 2011. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Funds Effective Rate - last updated from the United States Federal Reserve on July of 2025.

Key information about China Policy Rate

• China cash rate (Policy Rate: Month End: China: Rediscount Rate) was set at 2.65 % pa in Jun 2023, compared with 2.75 % pa in the previous May 2023.
• China Policy Rate averaged 3.00 % pa and is updated monthly, available from Jan 2016 to Jun 2023.
• The data reached an all-time high of 3.30 % pa in Oct 2019 and a record low of 2.65 % pa in Jun 2023.

• In the latest reports, China Short Term Interest Rate: Month End: SHIBOR: 3 Months was reported at 2.22 % pa in May 2023.
• Its Long Term Interest Rate (Treasury Bond Yield: Interbank: Spot Yield: 10 year) was reported at 2.65 % pa in Jun 2023.
• China Exchange Rate against USD averaged 6.99 (USD/RMB) in May 2023.
• Its Real Effective Exchange Rate was 140.85 in Apr 2023.

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.

• 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.

Graph and download economic data for Overnight Bank Funding Rate (OBFR) from 2016-03-01 to 2025-07-11 about ibf, overnight, percentile, banks, depository institutions, rate, and USA.

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.

The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.