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. The first rate cut in 2025 then set the rate at 4.33 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 inflation rate in the United States declined significantly between June 2022 and January 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at 9.1 percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at 5.33 percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to 4.33 percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was 158.11 percent, up from 153.12 a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

Graph and download economic data for 50) Over the Past Three Months, How Has the Volume of Mark and Collateral Disputes Relating to Contracts of Each of the Following Types Changed?| B. Interest Rate. | Answer Type: Remained Basically Unchanged (OTCDQ50BRBUNR) from Q4 2011 to Q4 2024 about contracts, volume, collateral, change, 3-month, interest rate, interest, rate, and USA.

Effective Federal Funds Rate in the United States remained unchanged at 4.33 percent on Tuesday February 11. This dataset includes a chart with historical data for the United States Effective Federal Funds Rate.

The benchmark interest rate in China was last recorded at 3.10 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.

The benchmark interest rate in Norway was last recorded at 4.50 percent. This dataset provides the latest reported value for - Norway Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for 43) Over the Past Three Months, How Have Initial Margin Requirements Set by Your Institution with Respect to Otc Interest Rate Derivatives Changed?| B. Initial Margin Requirements for Most Favored Clients, as a Consequence of Breadth, Duration, And/or Extent of Relationship. | Answer Type: Remained Basically Unchanged (OTCDQ43BRBUNR) from Q4 2011 to Q4 2024 about duration, derivatives, margin, change, 3-month, interest rate, interest, rate, and USA.

United States BIE: Unit Cost vs Last Yr: Unchanged, -1 to 1% data was reported at 17.986 % in Mar 2025. This records an increase from the previous number of 17.368 % for Feb 2025. United States BIE: Unit Cost vs Last Yr: Unchanged, -1 to 1% data is updated monthly, averaging 21.498 % from Oct 2011 (Median) to Mar 2025, with 162 observations. The data reached an all-time high of 42.818 % in Jul 2020 and a record low of 1.555 % in Mar 2023. United States BIE: Unit Cost vs Last Yr: Unchanged, -1 to 1% data remains active status in CEIC and is reported by Federal Reserve Bank of Atlanta. The data is categorized under Global Database’s United States – Table US.I113: Business Inflation Expectations Survey. Business Inflation Expectations Survey Questionnaire: How do your UNIT COSTS compare with this time last year?

Norway Business Survey: Epinion: Effective Exchange Rate Expectation: Economist: Next 12 Months: Unchanged data was reported at 31.900 % in Dec 2018. This records an increase from the previous number of 28.300 % for Sep 2018. Norway Business Survey: Epinion: Effective Exchange Rate Expectation: Economist: Next 12 Months: Unchanged data is updated quarterly, averaging 31.300 % from Mar 2002 (Median) to Dec 2018, with 68 observations. The data reached an all-time high of 48.300 % in Sep 2004 and a record low of 8.300 % in Dec 2008. Norway Business Survey: Epinion: Effective Exchange Rate Expectation: Economist: Next 12 Months: Unchanged data remains active status in CEIC and is reported by Epinion. The data is categorized under Global Database’s Norway – Table NO.S009: Business Survey: Epinion: Interest Rate and Exchange Rate Expectation.

The benchmark interest rate in Georgia was last recorded at 8 percent. This dataset provides the latest reported value for - Georgia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at 8.1 percent in June 2022 before steadily declining to 1.9 percent by January 2025. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of 5.25 percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to 3.5 percent in December 2024. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at 9.1 percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching 5.33 percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at 5.25 percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

The repo rate in Sweden was negative for a long period, until it was set to zero percent on January 8, 2020. The repo rate has remained unchanged, at zero percent, until February 2022. The repo rate is the policy rate of the Riksbank, Sweden's central bank, and can affect other interest rates, stimulates demand in the economy, and affect inflation.

Graph and download economic data for 70) Over the Past Three Months, How Have the Terms Under Which Cmbs Are Funded Changed?| A. Terms for Average Clients | 4. Collateral Spreads over Relevant Benchmark (Effective Financing Rates). | Answer Type: Remained Basically Unchanged (ALLQ70A4RBUNR) from Q4 2011 to Q4 2024 about collateral, change, funds, financing, spread, 3-month, average, rate, and USA.

Turkey FB: Interest Rate: ST: TRY: Next 3 Mth: Remain Unchanged data was reported at 62.300 Point in Apr 2020. This records a decrease from the previous number of 69.400 Point for Mar 2020. Turkey FB: Interest Rate: ST: TRY: Next 3 Mth: Remain Unchanged data is updated monthly, averaging 60.800 Point from Jan 2007 (Median) to Apr 2020, with 160 observations. The data reached an all-time high of 85.700 Point in Apr 2013 and a record low of 27.000 Point in Sep 2018. Turkey FB: Interest Rate: ST: TRY: Next 3 Mth: Remain Unchanged data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.S015: Business Tendency Survey: Food and Beverages: Weighted: NACE Rev2.

1 Year MLF Rate in China remained unchanged at 2 percent in January. This dataset includes a chart with historical data for China One-Year Medium-Term Lending Facility Rate.

The benchmark interest rate in Australia was last recorded at 4.10 percent. This dataset provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In June 2024, the European Central Bank (ECB) reduced the interest rate on its marginal lending facility by 0.25 percentage points, marking the first cut since 2016. Three months later, the ECB implemented another cut, setting the rate at 3.9 percent. It was followed by two further cuts at the end of 2024 and in early 2025, the latter one setting the rate at 3.15 percent. The marginal lending rate had previously been adjusted on March 16, 2016, when it was lowered from 0.3 percent to 0.25 percent, remaining unchanged until July 2022, when it was raised to 0.75 percent. After September 2022, the rate saw regular increases, reaching 4.75 percent by April 2024.

Relative purchasing power parity (PPP) holds for pure price inflations, which affect prices of all goods and services by the same proportion, while leaving relative prices unchanged. Pure price inflations also affect nominal returns of all traded financial assets by exactly the same amount. Recognizing that relative PPP may not hold for the official inflation data constructed from commodity price indices because of relative price changes and other frictions that cause prices to be "sticky," we provide a novel method for extracting a proxy for realized pure price inflation from stock returns. We find strong support for relative PPP in the short run using the extracted inflation measures.

United States Loan Officer Survey: SRSF: Unchanged data was reported at 63.500 % in Oct 2018. This records an increase from the previous number of 57.800 % for Jul 2018. United States Loan Officer Survey: SRSF: Unchanged data is updated quarterly, averaging 52.800 % from Jan 2008 (Median) to Oct 2018, with 44 observations. The data reached an all-time high of 82.100 % in Jan 2017 and a record low of 7.300 % in Oct 2008. United States Loan Officer Survey: SRSF: Unchanged data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S026: Senior Loan Officer Opinion Survey: Lending Policies for Small Firms. Senior Loan Officer Survey Questionnaire: For applications for C&I loans or credit lines—other than those to be used to finance mergers and acquisitions—from small firms that your bank currently is willing to approve, how have the Spreads of loan rates over your bank's cost of funds for those loans changed over the past three months?

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.