Global Interest Rates & Central Bank Statistics in 1999
Launch of the Euro and establishment of the European Central Bank (ECB) Inspect 12 headline monetary indicators and 19 reporting central bank policy rates recorded in 1999.
Headline Monetary Indicators in 1999
Federal Reserve
Rank #17 of 73 yrs
Federal Funds Effective Rate (United States)
1999 Reading 5.50%
YoY Change +0.75 pp
European Central Bank
Rank #6 of 28 yrs
ECB Main Policy Interest Rate (Euro Area)
1999 Reading 3.00%
YoY Change -
Bank of England
Rank #37 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
1999 Reading 5.50%
YoY Change -0.75 pp
Bank of Japan
Rank #56 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
1999 Reading 0.25%
YoY Change 0.00 pp
Reserve Bank of Australia
Rank #27 of 51 yrs
RBA Cash Rate Target (Australia)
1999 Reading 5.00%
YoY Change +0.25 pp
Swiss National Bank
Rank #63 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
1999 Reading 0.50%
YoY Change -0.50 pp
Bank of Canada
Rank #31 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
1999 Reading 4.75%
YoY Change -0.25 pp
Federal Reserve
Rank #68 of 113 yrs
United States Inflation Rate (CPI YoY %)
1999 Reading 2.19%
YoY Change +0.64 pp
Bank of England
Rank #88 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
1999 Reading 1.35%
YoY Change -0.21 pp
Federal Reserve
Rank #26 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
1999 Reading $668.91B
YoY Change +$122.59B
Federal Reserve
Rank #40 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
1999 Reading $136.45B
YoY Change $-9.56B
Federal Reserve
Rank #27 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
1999 Reading 97.46
YoY Change -1.04
Central Bank Policy Rates & Real Interest Rates in 1999 (19 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 1999 Policy Rate | 1999 CPI Inflation | 1999 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Central Bank of Brazil (BCB) | Brazil (BRL) | 19.00% | 4.86% | +14.14% |
| #2 | Bank of Mexico (BANXICO) | Mexico (MXN) | 18.39% | 16.67% | +1.72% |
| #3 | National Bank of Poland (NBP) | Poland (PLN) | 16.50% | 7.27% | +9.23% |
| #4 | South African Reserve Bank (SARB) | South Africa (ZAR) | 12.00% | 5.27% | +6.73% |
| #5 | Reserve Bank of India (RBI) | India (INR) | 8.00% | 3.54% | +4.46% |
| #6 | People's Bank of China (PBOC) | China (CNY) | 5.85% | -1.40% | +7.25% |
| #7 | Federal Reserve (FED) | United States (USD) | 5.50% | 2.19% | +3.31% |
| #8 | Bank of England (BOE) | United Kingdom (GBP) | 5.50% | 1.35% | +4.15% |
| #9 | Norges Bank (NORGES) | Norway (NOK) | 5.50% | 2.34% | +3.16% |
| #10 | Reserve Bank of Australia (RBA) | Australia (AUD) | 5.00% | 1.47% | +3.53% |
| #11 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 5.00% | -0.11% | +5.11% |
| #12 | Central Bank of Chile (BCCH) | Chile (CLP) | 5.00% | 3.34% | +1.66% |
| #13 | Bank of Canada (BOC) | Canada (CAD) | 4.75% | 1.73% | +3.02% |
| #14 | Bank of Korea (BOK) | South Korea (KRW) | 4.75% | 0.81% | +3.94% |
| #15 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 3.30% | 2.48% | +0.82% |
| #16 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 3.25% | 0.46% | +2.79% |
| #17 | European Central Bank (ECB) | Euro Area (EUR) | 3.00% | 1.09% | +1.91% |
| #18 | Swiss National Bank (SNB) | Switzerland (CHF) | 0.50% | 0.81% | -0.31% |
| #19 | Bank of Japan (BOJ) | Japan (JPY) | 0.25% | -0.34% | +0.59% |
Surrounding Decade Context (1994-2004)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 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. |
| 2004 | 2.25% | 4.75% | -% | 2.68% | Global monetary policy and central bank balance sheet ledger for 2004. |