Interest Rates

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR). The assets borrowed could include, cash, consumer goods, large assets, such as a vehicle or building. Interest is essentially a rental, or leasing charge to the borrower, for the asset’s use. In the case of a large asset, like a vehicle or building, the interest rate is sometimes known as the “lease rate”. When the borrower is a low-risk party, they will usually be charged a low interest rate; if the borrower is considered high risk, the interest rate that they are charged will be higher.

Central Bank Key interest rate Next announcement Last change Current rate
Federal Reserve System USA (FRS or FED) Federal Funds Rate 20.09.2017 26.07.2017 1.25%
The European Central Bank (ECB) Refinancing tender 26.10.2017 07.09.2017 0.00%
UKUnited Kingdom
Bank of England (BoE) Bank Rate 02.11.2017 14.09.2017 0.25%
Bank of Japan (BoJ) Overnight Call Rate 19.07.2017 20.09.2017 0.10%
Bank of Canada (BoC) Overnight Rate Target 25.10.2017 06.09.2017 1.00%
The Swiss National Bank (SNB) 3 Month Libor Rate 14.12.2017 14.09.2017 0.75%
Reserve Bank of Australia (RBA) Cash Rate 02.10.2017 05.09.2017 1.50%
New ZealandNew Zealand
Reserve Bank of New Zealand (RBNZ) Official Cash Rate 27.09.2017 09.08.2017 1.75%