Global Interest Rates & Central Bank Statistics in 1994
Global bond market selloff and pre-emptive Federal Reserve tightening cycle Inspect 11 headline monetary indicators and 14 reporting central bank policy rates recorded in 1994.
Headline Monetary Indicators in 1994
Federal Reserve
Rank #17 of 73 yrs
Federal Funds Effective Rate (United States)
1994 Reading 5.50%
YoY Change +2.50 pp
Bank of England
Rank #32 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
1994 Reading 6.12%
YoY Change +0.74 pp
Bank of Japan
Rank #48 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
1994 Reading 1.75%
YoY Change 0.00 pp
Reserve Bank of Australia
Rank #15 of 51 yrs
RBA Cash Rate Target (Australia)
1994 Reading 7.50%
YoY Change +2.75 pp
Swiss National Bank
Rank #18 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
1994 Reading 3.50%
YoY Change -0.50 pp
Bank of Canada
Rank #27 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
1994 Reading 5.69%
YoY Change +1.58 pp
Federal Reserve
Rank #60 of 113 yrs
United States Inflation Rate (CPI YoY %)
1994 Reading 2.61%
YoY Change -0.35 pp
Bank of England
Rank #81 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
1994 Reading 1.99%
YoY Change -0.56 pp
Federal Reserve
Rank #33 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
1994 Reading $439.98B
YoY Change +$31.40B
Federal Reserve
Rank #29 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
1994 Reading $163.59B
YoY Change $-1.03B
Federal Reserve
Rank #46 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
1994 Reading 86.54
YoY Change +8.45
Central Bank Policy Rates & Real Interest Rates in 1994 (14 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 1994 Policy Rate | 1994 CPI Inflation | 1994 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Central Bank of Brazil (BCB) | Brazil (BRL) | 49.86% | 2951.55% | -2901.69% |
| #2 | National Bank of Poland (NBP) | Poland (PLN) | 31.00% | 33.25% | -2.25% |
| #3 | South African Reserve Bank (SARB) | South Africa (ZAR) | 13.00% | 8.94% | +4.06% |
| #4 | Reserve Bank of India (RBI) | India (INR) | 12.00% | 10.41% | +1.59% |
| #5 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 8.30% | 1.74% | +6.56% |
| #6 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 7.60% | 2.16% | +5.44% |
| #7 | Reserve Bank of Australia (RBA) | Australia (AUD) | 7.50% | 1.89% | +5.61% |
| #8 | Bank of England (BOE) | United Kingdom (GBP) | 6.12% | 1.99% | +4.13% |
| #9 | Bank of Canada (BOC) | Canada (CAD) | 5.69% | 0.17% | +5.52% |
| #10 | Federal Reserve (FED) | United States (USD) | 5.50% | 2.61% | +2.89% |
| #11 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 5.50% | 2.00% | +3.50% |
| #12 | Norges Bank (NORGES) | Norway (NOK) | 4.75% | 1.42% | +3.33% |
| #13 | Swiss National Bank (SNB) | Switzerland (CHF) | 3.50% | 0.85% | +2.65% |
| #14 | Bank of Japan (BOJ) | Japan (JPY) | 1.75% | 0.69% | +1.06% |
Surrounding Decade Context (1989-1999)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 1989 | 8.25% | 14.88% | 4.25% | 4.83% | Global monetary policy and central bank balance sheet ledger for 1989. |
| 1990 | 7.00% | 13.88% | 6.00% | 5.39% | German reunification tightening and Japanese asset bubble peak |
| 1991 | 4.00% | 10.38% | 4.50% | 4.25% | Global monetary policy and central bank balance sheet ledger for 1991. |
| 1992 | 3.00% | 6.88% | 3.25% | 3.03% | European Exchange Rate Mechanism (ERM) crisis and Black Wednesday |
| 1993 | 3.00% | 5.38% | 1.75% | 2.96% | Global monetary policy and central bank balance sheet ledger for 1993. |
| 1994 | 5.50% | 6.12% | 1.75% | 2.61% | Global bond market selloff and pre-emptive Federal Reserve tightening cycle |
| 1995 | 5.50% | 6.38% | 0.50% | 2.81% | Global monetary policy and central bank balance sheet ledger for 1995. |
| 1996 | 5.25% | 5.94% | 0.50% | 2.93% | Global monetary policy and central bank balance sheet ledger for 1996. |
| 1997 | 5.50% | 7.25% | 0.50% | 2.34% | Asian Financial Crisis triggers emergency EM currency defense hikes |
| 1998 | 4.75% | 6.25% | 0.25% | 1.55% | Global monetary policy and central bank balance sheet ledger for 1998. |
| 1999 | 5.50% | 5.50% | 0.25% | 2.19% | Launch of the Euro and establishment of the European Central Bank (ECB) |