Global Interest Rates & Central Bank Statistics in 1979
Second oil shock; Paul Volcker appointed Federal Reserve Chair Inspect 11 headline monetary indicators and 9 reporting central bank policy rates recorded in 1979.
Headline Monetary Indicators in 1979
Federal Reserve
Rank #2 of 73 yrs
Federal Funds Effective Rate (United States)
1979 Reading 14.77%
YoY Change +3.93 pp
Bank of England
Rank #1 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
1979 Reading 17.00%
YoY Change +4.50 pp
Bank of Japan
Rank #15 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
1979 Reading 6.25%
YoY Change +2.75 pp
Reserve Bank of Australia
Rank #13 of 51 yrs
RBA Cash Rate Target (Australia)
1979 Reading 8.00%
YoY Change -0.28 pp
Swiss National Bank
Rank #32 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
1979 Reading 2.00%
YoY Change +1.00 pp
Bank of Canada
Rank #3 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
1979 Reading 14.00%
YoY Change +3.25 pp
Federal Reserve
Rank #7 of 113 yrs
United States Inflation Rate (CPI YoY %)
1979 Reading 11.22%
YoY Change +3.60 pp
Bank of England
Rank #13 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
1979 Reading 11.32%
YoY Change +3.83 pp
Federal Reserve
Rank #48 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
1979 Reading $158.23B
YoY Change +$0.45B
Federal Reserve
Rank #38 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
1979 Reading $143.26B
YoY Change +$73.81B
Federal Reserve
Rank #53 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
1979 Reading 82.49
YoY Change +0.94
Central Bank Policy Rates & Real Interest Rates in 1979 (9 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 1979 Policy Rate | 1979 CPI Inflation | 1979 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Bank of England (BOE) | United Kingdom (GBP) | 17.00% | 11.32% | +5.68% |
| #2 | Federal Reserve (FED) | United States (USD) | 14.77% | 11.22% | +3.55% |
| #3 | Bank of Canada (BOC) | Canada (CAD) | 14.00% | 9.14% | +4.86% |
| #4 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 11.00% | 9.59% | +1.41% |
| #5 | Reserve Bank of India (RBI) | India (INR) | 9.00% | 11.59% | -2.59% |
| #6 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 9.00% | 7.18% | +1.82% |
| #7 | Reserve Bank of Australia (RBA) | Australia (AUD) | 8.00% | 9.05% | -1.05% |
| #8 | Bank of Japan (BOJ) | Japan (JPY) | 6.25% | 3.76% | +2.49% |
| #9 | Swiss National Bank (SNB) | Switzerland (CHF) | 2.00% | 3.63% | -1.63% |
Surrounding Decade Context (1974-1984)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 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. |
| 1983 | 9.92% | 9.06% | 5.00% | 3.22% | Global monetary policy and central bank balance sheet ledger for 1983. |
| 1984 | 8.74% | 9.50% | 5.00% | 4.30% | Global monetary policy and central bank balance sheet ledger for 1984. |