Global Interest Rates & Central Bank Statistics in 2014
ECB and European peers introduce Negative Interest Rate Policy (NIRP) Inspect 11 headline monetary indicators and 19 reporting central bank policy rates recorded in 2014.
Headline Monetary Indicators in 2014
Federal Reserve
Rank #65 of 73 yrs
Federal Funds Effective Rate (United States)
2014 Reading 0.12%
YoY Change 0.00 pp
European Central Bank
Rank #21 of 28 yrs
ECB Main Policy Interest Rate (Euro Area)
2014 Reading 0.05%
YoY Change -0.20 pp
Bank of England
Rank #71 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
2014 Reading 0.50%
YoY Change 0.00 pp
Reserve Bank of Australia
Rank #43 of 51 yrs
RBA Cash Rate Target (Australia)
2014 Reading 2.50%
YoY Change 0.00 pp
Swiss National Bank
Rank #74 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
2014 Reading -0.25%
YoY Change -0.37 pp
Bank of Canada
Rank #57 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
2014 Reading 1.00%
YoY Change 0.00 pp
Federal Reserve
Rank #76 of 113 yrs
United States Inflation Rate (CPI YoY %)
2014 Reading 1.62%
YoY Change +0.16 pp
Bank of England
Rank #86 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
2014 Reading 1.47%
YoY Change -1.10 pp
Federal Reserve
Rank #8 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
2014 Reading $4,497.66B
YoY Change +$465.09B
Federal Reserve
Rank #14 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
2014 Reading $434.42B
YoY Change $-14.09B
Federal Reserve
Rank #51 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
2014 Reading 84.14
YoY Change +1.90
Central Bank Policy Rates & Real Interest Rates in 2014 (19 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 2014 Policy Rate | 2014 CPI Inflation | 2014 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Central Bank of Brazil (BCB) | Brazil (BRL) | 11.75% | 6.33% | +5.42% |
| #2 | Reserve Bank of India (RBI) | India (INR) | 8.00% | 6.69% | +1.31% |
| #3 | Bank Indonesia (BI) | Indonesia (IDR) | 7.75% | 6.42% | +1.33% |
| #4 | South African Reserve Bank (SARB) | South Africa (ZAR) | 5.75% | 6.12% | -0.37% |
| #5 | People's Bank of China (PBOC) | China (CNY) | 5.60% | 2.06% | +3.54% |
| #6 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 3.50% | 1.23% | +2.27% |
| #7 | Bank of Mexico (BANXICO) | Mexico (MXN) | 3.00% | 4.02% | -1.02% |
| #8 | Central Bank of Chile (BCCH) | Chile (CLP) | 3.00% | 4.71% | -1.71% |
| #9 | Reserve Bank of Australia (RBA) | Australia (AUD) | 2.50% | 2.50% | 0.00% |
| #10 | Bank of Korea (BOK) | South Korea (KRW) | 2.00% | 1.28% | +0.72% |
| #11 | National Bank of Poland (NBP) | Poland (PLN) | 2.00% | 0.17% | +1.83% |
| #12 | Norges Bank (NORGES) | Norway (NOK) | 1.25% | 2.06% | -0.81% |
| #13 | Bank of Canada (BOC) | Canada (CAD) | 1.00% | 1.91% | -0.91% |
| #14 | Bank of England (BOE) | United Kingdom (GBP) | 0.50% | 1.47% | -0.97% |
| #15 | Federal Reserve (FED) | United States (USD) | 0.12% | 1.62% | -1.50% |
| #16 | European Central Bank (ECB) | Euro Area (EUR) | 0.05% | 0.43% | -0.38% |
| #17 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 0.00% | -0.18% | +0.18% |
| #18 | Danmarks Nationalbank (DNB) | Denmark (DKK) | -0.05% | 0.55% | -0.60% |
| #19 | Swiss National Bank (SNB) | Switzerland (CHF) | -0.25% | -0.01% | -0.24% |
Surrounding Decade Context (2009-2019)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 2009 | 0.12% | 0.50% | 0.10% | -0.34% | Global monetary policy and central bank balance sheet ledger for 2009. |
| 2010 | 0.12% | 0.50% | 0.05% | 1.64% | Global monetary policy and central bank balance sheet ledger for 2010. |
| 2011 | 0.12% | 0.50% | 0.05% | 3.15% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2012 | 0.12% | 0.50% | 0.05% | 2.07% | Global monetary policy and central bank balance sheet ledger for 2012. |
| 2013 | 0.12% | 0.50% | 0.05% | 1.46% | Global monetary policy and central bank balance sheet ledger for 2013. |
| 2014 | 0.12% | 0.50% | -% | 1.62% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2015 | 0.38% | 0.50% | -% | 0.12% | Global monetary policy and central bank balance sheet ledger for 2015. |
| 2016 | 0.62% | 0.25% | -0.10% | 1.26% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2017 | 1.38% | 0.50% | -0.10% | 2.13% | Global monetary policy and central bank balance sheet ledger for 2017. |
| 2018 | 2.38% | 0.75% | -0.10% | 2.44% | Global monetary policy and central bank balance sheet ledger for 2018. |
| 2019 | 1.62% | 0.75% | -0.10% | 1.81% | Global monetary policy and central bank balance sheet ledger for 2019. |