Global Interest Rates & Central Bank Statistics in 1977
Global monetary policy and central bank balance sheet ledger for 1977. Inspect 11 headline monetary indicators and 9 reporting central bank policy rates recorded in 1977.
Headline Monetary Indicators in 1977
Federal Reserve
Rank #14 of 73 yrs
Federal Funds Effective Rate (United States)
1977 Reading 6.53%
YoY Change +2.36 pp
Bank of England
Rank #23 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
1977 Reading 7.00%
YoY Change -7.25 pp
Bank of Japan
Rank #38 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
1977 Reading 4.25%
YoY Change -2.25 pp
Reserve Bank of Australia
Rank #14 of 51 yrs
RBA Cash Rate Target (Australia)
1977 Reading 7.91%
YoY Change +0.71 pp
Swiss National Bank
Rank #42 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
1977 Reading 1.50%
YoY Change -0.50 pp
Bank of Canada
Rank #19 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
1977 Reading 7.50%
YoY Change -1.00 pp
Federal Reserve
Rank #18 of 113 yrs
United States Inflation Rate (CPI YoY %)
1977 Reading 6.50%
YoY Change +0.75 pp
Bank of England
Rank #10 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
1977 Reading 14.99%
YoY Change -0.85 pp
Federal Reserve
Rank #50 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
1977 Reading $146.03B
YoY Change +$11.36B
Federal Reserve
Rank #50 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
1977 Reading $53.37B
YoY Change +$9.21B
Federal Reserve
Rank #42 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
1977 Reading 88.82
YoY Change -1.63
Central Bank Policy Rates & Real Interest Rates in 1977 (9 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 1977 Policy Rate | 1977 CPI Inflation | 1977 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Reserve Bank of India (RBI) | India (INR) | 9.00% | 7.66% | +1.34% |
| #2 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 9.00% | 11.13% | -2.13% |
| #3 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 8.00% | 11.41% | -3.41% |
| #4 | Reserve Bank of Australia (RBA) | Australia (AUD) | 7.91% | 12.42% | -4.51% |
| #5 | Bank of Canada (BOC) | Canada (CAD) | 7.50% | 7.96% | -0.46% |
| #6 | Bank of England (BOE) | United Kingdom (GBP) | 7.00% | 14.99% | -7.99% |
| #7 | Federal Reserve (FED) | United States (USD) | 6.53% | 6.50% | +0.03% |
| #8 | Bank of Japan (BOJ) | Japan (JPY) | 4.25% | 8.14% | -3.89% |
| #9 | Swiss National Bank (SNB) | Switzerland (CHF) | 1.50% | 1.30% | +0.20% |
Surrounding Decade Context (1972-1982)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 1972 | 5.50% | 9.00% | 4.25% | 3.27% | Global monetary policy and central bank balance sheet ledger for 1972. |
| 1973 | 9.83% | 13.00% | 9.00% | 6.16% | Global monetary policy and central bank balance sheet ledger for 1973. |
| 1974 | 3.87% | 11.50% | 9.00% | 11.03% | First OPEC oil shock triggers global stagflation and steep policy rate hikes |
| 1975 | 5.37% | 11.25% | 6.50% | 9.19% | Global monetary policy and central bank balance sheet ledger for 1975. |
| 1976 | 4.17% | 14.25% | 6.50% | 5.75% | Global monetary policy and central bank balance sheet ledger for 1976. |
| 1977 | 6.53% | 7.00% | 4.25% | 6.50% | Global monetary policy and central bank balance sheet ledger for 1977. |
| 1978 | 10.84% | 12.50% | 3.50% | 7.62% | Global monetary policy and central bank balance sheet ledger for 1978. |
| 1979 | 14.77% | 17.00% | 6.25% | 11.22% | Second oil shock; Paul Volcker appointed Federal Reserve Chair |
| 1980 | 22.00% | 14.00% | 7.25% | 13.58% | Global monetary policy and central bank balance sheet ledger for 1980. |
| 1981 | 13.13% | 14.38% | 5.50% | 10.35% | Volcker disinflation peak pushes benchmark policy rates to postwar highs |
| 1982 | 11.20% | 10.00% | 5.50% | 6.16% | Global monetary policy and central bank balance sheet ledger for 1982. |