Global Interest Rates & Central Bank Statistics in 1998
Global monetary policy and central bank balance sheet ledger for 1998. Inspect 11 headline monetary indicators and 17 reporting central bank policy rates recorded in 1998.
Headline Monetary Indicators in 1998
Federal Reserve
Rank #28 of 73 yrs
Federal Funds Effective Rate (United States)
1998 Reading 4.75%
YoY Change -0.75 pp
Bank of England
Rank #31 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
1998 Reading 6.25%
YoY Change -1.00 pp
Bank of Japan
Rank #56 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
1998 Reading 0.25%
YoY Change -0.25 pp
Reserve Bank of Australia
Rank #29 of 51 yrs
RBA Cash Rate Target (Australia)
1998 Reading 4.75%
YoY Change -0.25 pp
Swiss National Bank
Rank #55 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
1998 Reading 1.00%
YoY Change 0.00 pp
Bank of Canada
Rank #29 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
1998 Reading 5.00%
YoY Change +0.75 pp
Federal Reserve
Rank #79 of 113 yrs
United States Inflation Rate (CPI YoY %)
1998 Reading 1.55%
YoY Change -0.79 pp
Bank of England
Rank #85 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
1998 Reading 1.56%
YoY Change -0.26 pp
Federal Reserve
Rank #29 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
1998 Reading $546.32B
YoY Change +$28.47B
Federal Reserve
Rank #35 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
1998 Reading $146.01B
YoY Change +$11.17B
Federal Reserve
Rank #25 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
1998 Reading 98.50
YoY Change +7.33
Central Bank Policy Rates & Real Interest Rates in 1998 (17 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 1998 Policy Rate | 1998 CPI Inflation | 1998 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Bank of Mexico (BANXICO) | Mexico (MXN) | 33.14% | 15.90% | +17.24% |
| #2 | Central Bank of Brazil (BCB) | Brazil (BRL) | 29.00% | 3.21% | +25.79% |
| #3 | South African Reserve Bank (SARB) | South Africa (ZAR) | 19.32% | 6.86% | +12.46% |
| #4 | National Bank of Poland (NBP) | Poland (PLN) | 15.50% | 12.05% | +3.45% |
| #5 | Reserve Bank of India (RBI) | India (INR) | 9.00% | 5.80% | +3.20% |
| #6 | Norges Bank (NORGES) | Norway (NOK) | 8.00% | 2.28% | +5.72% |
| #7 | Central Bank of Chile (BCCH) | Chile (CLP) | 7.80% | 5.12% | +2.68% |
| #8 | People's Bank of China (PBOC) | China (CNY) | 6.39% | -0.77% | +7.16% |
| #9 | Bank of England (BOE) | United Kingdom (GBP) | 6.25% | 1.56% | +4.69% |
| #10 | Bank of Canada (BOC) | Canada (CAD) | 5.00% | 1.00% | +4.00% |
| #11 | Federal Reserve (FED) | United States (USD) | 4.75% | 1.55% | +3.20% |
| #12 | Reserve Bank of Australia (RBA) | Australia (AUD) | 4.75% | 0.86% | +3.89% |
| #13 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 3.95% | 1.82% | +2.13% |
| #14 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 3.85% | 1.27% | +2.58% |
| #15 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 3.40% | -0.27% | +3.67% |
| #16 | Swiss National Bank (SNB) | Switzerland (CHF) | 1.00% | 0.02% | +0.98% |
| #17 | Bank of Japan (BOJ) | Japan (JPY) | 0.25% | 0.68% | -0.43% |
Surrounding Decade Context (1993-2003)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 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. |
| 2003 | 1.00% | 3.75% | -% | 2.27% | Global monetary policy and central bank balance sheet ledger for 2003. |