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.

The Reserve Bank of Australia's (RBA) cash rate target in-part determines interest rates on financial products.

The benchmark interest rate in Peru was last recorded at 4.50 percent. This dataset provides - Peru Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar 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.

In June 2024, the European Central Bank (ECB) began reducing its fixed interest rate for the first time since 2016, implementing a series of cuts. The rate decreased from 4.5 percent to 3.15 percent by year-end: a 0.25 percentage point cut in June, followed by additional reductions in September, October, and December. The central bank implemented other cuts in early 2025, setting the rate at 2.4 percent in April 2025. This marked a significant shift from the previous rate hike cycle, which began in July 2022 when the ECB raised rates to 0.5 percent and subsequently increased them almost monthly, reaching 4.5 percent by December 2023 - the highest level since the 2007-2008 global financial crisis. How does this ensure liquidity? Banks typically hold only a fraction of their capital in cash, measured by metrics like the Tier 1 capital ratio. Since this ratio is low, banks prefer to allocate most of their capital to revenue-generating loans. When their cash reserves fall too low, banks borrow from the ECB to cover short-term liquidity needs. On the other hand, commercial banks can also deposit excess funds with the ECB at a lower interest rate. Reasons for fluctuations
The ECB’s primary mandate is to maintain price stability. The Euro area inflation rate is, in theory, the key indicator guiding the ECB's actions. When the fixed interest rate is lower, commercial banks are more likely to borrow from the ECB, increasing the money supply and, in turn, driving inflation higher. When inflation rises, the ECB increases the fixed interest rate, which slows borrowing and helps to reduce inflation.

The benchmark interest rate in Chile was last recorded at 5 percent. This dataset provides - Chile Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by May 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic - both of which resulted in negative annual GDP growth in the U.S. - showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached * percent in 2022, the highest since 1991. However, by *************, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in ***********, before the first rate cut since ************** occurred in **************. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2023, the Fed reported a negative net income of ***** billion U.S. dollars, a stark contrast to the ***** billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over *** billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of ****** billion U.S. dollars in the same year.

In April 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 21 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in April 2025. In contrast, Russia maintained a high inflation rate of 10.2 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

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 Interest Rate on Reserve Balances (IORB Rate) (IORB) from 2021-07-29 to 2025-05-28 about reserves, interest rate, interest, rate, and USA.

Based on panel error correction models for a sample of up to 21 countries this paper analyses the macroeconomic determinants of house prices and rents. In accordance with the existing literature I find significantly positive effects of per capita income and bank lending on house prices, whereas the housing stock per capita and interest rates have negative effects. For rents the results are somewhat more remarkable, indicating that both the housing stock and interest rates have a negative effect. While contradicting conventional economic theory the latter finding might be explained by real estate investors exploiting their pricing power with varying degree depending on the level of real interest rates. Moreover, the estimated impact of interest rates on both house prices and rents varies with structural housing market characteristics. For instance, while interest rates have a more pronounced effect on house prices in countries with more developed mortgage markets, the same does not hold for the effect of interest rates on rents.

United States CBO Projection: Federal Debt Held by Public: Average Interest Rate data was reported at 3.448 % in 2028. This records an increase from the previous number of 3.442 % for 2027. United States CBO Projection: Federal Debt Held by Public: Average Interest Rate data is updated yearly, averaging 3.289 % from Sep 2014 (Median) to 2028, with 15 observations. The data reached an all-time high of 3.531 % in 2023 and a record low of 1.654 % in 2015. United States CBO Projection: Federal Debt Held by Public: Average Interest Rate data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s USA – Table US.F006: Federal Debt: Projection: Congressional Budget Office.

The benchmark interest rate in Taiwan was last recorded at 2 percent. This dataset provides the latest reported value for - Taiwan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

These data are derived from returns submitted by corporations registered as Category D (Money Market Corporations) under the Financial Sector (Collection of Data) Act 2001. Along with Category :Other-C/, these corporations are known collectively as Registered Financial Corporations (RFCs). Category :Other-C/ includes corporations formerly registered as Category F (Finance Companies), G (General Financiers) and E (Pastoral Finance Companies) under the Financial Corporations Act 1974.

In AprilA 2003, responsibility for the collection of financial statistics from Registered Financial Corporations (RFCs) was transferred to APRA. Previously, these data were collected by the RB under the now repealed Financial Corporations Act 1974. The introduction of new reporting forms in April 2003 has led to some significant breaks in series and affected definitions and categories shown for these institutions. There are other breaks from time to time in the historical data due to changes in the number of reporting corporations. Details of data reported by individual corporations are confidential.

Since December 1999, the collections cover RFCs whose assets in Australia (including related corporations) exceed $50A million. Prior to December 1999, this threshold was set at $5A million. This change resulted in breaks in all series covering RFCs.

The collection of statistics from the authorised money market dealers (formerly Category C corporations under the Financial Corporations Act 1974) ceased from August 1996.

From April 2003, the data are derived from RRFA 320.0: Statement of Financial Position collected by APRA. Prior to April 2003, the data were derived from the FC forms: D1, E1, F1 and G1 which were collected by the RBA.

:AFIs-C/ refers to banks, credit unions, building societies, SCCIs, RFCs and the RBA.

From April 2003, :Cash and liquid assets - Cash and balances with AFIs-C/ includes cash and deposits and placements with AFIs. Prior to April 2003, this series includes cash and deposits and placements with banks and RFCs.

From April 2003, :Cash and liquid assets - Other-C/ includes gold bullion and deposits and placements with clearing houses and other (non- AFI) financial institutions. Prior to April 2003, this series includes deposits and placements with all institutions other than banks and RFCs. This series also includes placements with authorised money market dealers prior to August 1996.

:Trading and investment securities - Debt-C/ includes commercial paper and promissory notes, bills of exchange and all other debt securities held by all counterparties.

All series under :Loans and advances-C/ include finance lease receivables.

:Loans and advances - Household-C/ includes housing and other personal loans to households.

From April 2003, :Loans and advances - Business-C/ includes loans to the following counterparties: private trading corporations, private unincorporated businesses, public non-financial corporations, community service organisations and other (non-AFI) financial institutions. Prior to April 2003, this series includes loans to all counterparties other than households and RFCs, and also includes bills of exchange accepted by the reporting corporation.

From April 2003, :Loans and advances - AFIs-C/ includes loans to AFIs. Prior to April 2003, this series only includes loans to RFCs (loans to other AFIs are included in :Loans and advances - Business-C/).

From April 2003, :Borrowings from residents - Borrowings from AFIs-C/ includes deposits and placements due to AFIs and short-term loans from ADIs. Prior to April 2003, this series includes borrowings from banks and related RFCs.

From April 2003, :Borrowings from residents - Deposits and placements-C/ includes deposits and placements due to the following counterparties: private trading corporations, private unincorporated businesses, public non-financial corporations, community service organisations and other (non-AFI) financial institutions.

From April 2003, :Borrowings from residents - Other-C/ includes borrowings by the issue of promissory notes, bills of exchange and other debt securities, short-term loans from non-ADIs and all long-term loans. Prior to April 2003, this series includes borrowings from all counterparties other than banks and related RFCs, and borrowings by the issue of promissory notes, debentures, unsecured notes and bills of exchange accepted by banks.

Mortgage interest rates worldwide varied greatly in 2024, from less than four percent in many European countries, to as high as 44 percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increase in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2023, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

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

Graph and download economic data for Market Yield on U.S. Treasury Securities at 30-Year Constant Maturity, Quoted on an Investment Basis (DGS30) from 1977-02-15 to 2025-06-18 about 30-year, maturity, Treasury, interest rate, interest, rate, and USA.

Key information about Japan Policy Rate

• Japan cash rate (Policy Rate: Month End: Japan: Complementary Deposit Facility Interest Rate) was set at -0.10 % pa in Jun 2023, compared with -0.10 % pa in the previous May 2023.
• Japan Policy Rate averaged -0.10 % pa and is updated monthly, available from Nov 2008 to Jun 2023.
• The data reached an all-time high of 0.10 % pa in Jan 2016 and a record low of -0.10 % pa in Jun 2023.

As of April 2013, Bank of Japan has switched to the amount of monetary base as its main operating tool. Under this arrangement, the Complementary Deposit Facility Interest Rate can be used as an indication of monetary policy. It represents the interest paid on excess reserve balances (balances held at the account with the Bank of Japan in excess of required reserves under the reserve deposit requirement system).


Related information about Japan Policy Rate

• In the latest reports, Japan Short Term Interest Rate: Month End: TIBOR: Japanese Yen: 3 Months was reported at 0.07 % pa in Jun 2023.
• Its Long Term Interest Rate (Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End) was reported at 0.43 % pa in May 2023.
• Japan Exchange Rate against USD averaged 137.05 (USD/JPY) in May 2023.
• Its Real Effective Exchange Rate was 59.46 in May 2023.

This paper analyzes the dynamics of Canadian dollar–denominated (CAD) interest rate swap yields. It applies autoregressive distributive lag (ARDL) models, using monthly time series data, to estimate the effects of the current short-term interest rate on interest rate swap yields after controlling for relevant macro-financial variables. It shows that the current short-term interest rate is a crucial driver of the CAD swap yields of different maturity tenors. Previous empirical research testing the Keynesian hypothesis, which maintains that the current short-term interest rate has a decisive influence on the long-term interest rate, has discerned similar patterns for interest rate swaps denominated in other currencies. Thus, the findings of this paper lend additional support to the Keynesian hypothesis by showing that the same pattern holds for CAD interest rate swap yields.