Global Interest Rates & Central Bank Statistics in 1997
Asian Financial Crisis triggers emergency EM currency defense hikes Inspect 11 headline monetary indicators and 16 reporting central bank policy rates recorded in 1997.
Headline Monetary Indicators in 1997
Federal Reserve
Rank #17 of 73 yrs
Federal Funds Effective Rate (United States)
1997 Reading 5.50%
YoY Change +0.25 pp
Bank of England
Rank #22 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
1997 Reading 7.25%
YoY Change +1.31 pp
Bank of Japan
Rank #52 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
1997 Reading 0.50%
YoY Change 0.00 pp
Reserve Bank of Australia
Rank #27 of 51 yrs
RBA Cash Rate Target (Australia)
1997 Reading 5.00%
YoY Change -1.00 pp
Swiss National Bank
Rank #55 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
1997 Reading 1.00%
YoY Change 0.00 pp
Bank of Canada
Rank #35 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
1997 Reading 4.25%
YoY Change +1.25 pp
Federal Reserve
Rank #64 of 113 yrs
United States Inflation Rate (CPI YoY %)
1997 Reading 2.34%
YoY Change -0.59 pp
Bank of England
Rank #82 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
1997 Reading 1.82%
YoY Change -0.61 pp
Federal Reserve
Rank #30 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
1997 Reading $517.85B
YoY Change +$42.85B
Federal Reserve
Rank #41 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
1997 Reading $134.84B
YoY Change $-25.82B
Federal Reserve
Rank #37 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
1997 Reading 91.17
YoY Change +4.25
Central Bank Policy Rates & Real Interest Rates in 1997 (16 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 1997 Policy Rate | 1997 CPI Inflation | 1997 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Central Bank of Brazil (BCB) | Brazil (BRL) | 38.74% | 6.97% | +31.77% |
| #2 | National Bank of Poland (NBP) | Poland (PLN) | 27.00% | 14.97% | +12.03% |
| #3 | South African Reserve Bank (SARB) | South Africa (ZAR) | 16.00% | 8.62% | +7.38% |
| #4 | Reserve Bank of India (RBI) | India (INR) | 9.00% | 4.59% | +4.41% |
| #5 | People's Bank of China (PBOC) | China (CNY) | 8.64% | 2.81% | +5.83% |
| #6 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 8.35% | 1.19% | +7.16% |
| #7 | Bank of England (BOE) | United Kingdom (GBP) | 7.25% | 1.82% | +5.43% |
| #8 | Central Bank of Chile (BCCH) | Chile (CLP) | 6.50% | 6.14% | +0.36% |
| #9 | Federal Reserve (FED) | United States (USD) | 5.50% | 2.34% | +3.16% |
| #10 | Reserve Bank of Australia (RBA) | Australia (AUD) | 5.00% | 0.26% | +4.74% |
| #11 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 4.35% | 0.66% | +3.69% |
| #12 | Bank of Canada (BOC) | Canada (CAD) | 4.25% | 1.62% | +2.63% |
| #13 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 3.75% | 2.18% | +1.57% |
| #14 | Norges Bank (NORGES) | Norway (NOK) | 3.50% | 2.54% | +0.96% |
| #15 | Swiss National Bank (SNB) | Switzerland (CHF) | 1.00% | 0.52% | +0.48% |
| #16 | Bank of Japan (BOJ) | Japan (JPY) | 0.50% | 1.70% | -1.20% |
Surrounding Decade Context (1992-2002)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 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) |
| 2000 | 6.50% | 6.00% | 0.25% | 3.38% | Global monetary policy and central bank balance sheet ledger for 2000. |
| 2001 | 1.75% | 4.00% | 0.15% | 2.83% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2002 | 1.25% | 4.00% | -% | 1.59% | Global monetary policy and central bank balance sheet ledger for 2002. |