Global Interest Rates & Central Bank Statistics in 2016
Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing Inspect 12 headline monetary indicators and 20 reporting central bank policy rates recorded in 2016.
Headline Monetary Indicators in 2016
Federal Reserve
Rank #63 of 73 yrs
Federal Funds Effective Rate (United States)
2016 Reading 0.62%
YoY Change +0.24 pp
European Central Bank
Rank #23 of 28 yrs
ECB Main Policy Interest Rate (Euro Area)
2016 Reading 0.00%
YoY Change -0.05 pp
Bank of England
Rank #79 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
2016 Reading 0.25%
YoY Change -0.25 pp
Bank of Japan
Rank #68 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
2016 Reading -0.10%
YoY Change -
Reserve Bank of Australia
Rank #46 of 51 yrs
RBA Cash Rate Target (Australia)
2016 Reading 1.50%
YoY Change -0.50 pp
Swiss National Bank
Rank #75 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
2016 Reading -0.75%
YoY Change 0.00 pp
Bank of Canada
Rank #63 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
2016 Reading 0.50%
YoY Change 0.00 pp
Federal Reserve
Rank #85 of 113 yrs
United States Inflation Rate (CPI YoY %)
2016 Reading 1.26%
YoY Change +1.14 pp
Bank of England
Rank #97 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
2016 Reading 0.64%
YoY Change +0.59 pp
Federal Reserve
Rank #10 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
2016 Reading $4,451.45B
YoY Change $-35.14B
Federal Reserve
Rank #15 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
2016 Reading $405.94B
YoY Change +$22.21B
Federal Reserve
Rank #28 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
2016 Reading 97.17
YoY Change +3.86
Central Bank Policy Rates & Real Interest Rates in 2016 (20 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 2016 Policy Rate | 2016 CPI Inflation | 2016 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Central Bank of Brazil (BCB) | Brazil (BRL) | 13.75% | 8.77% | +4.98% |
| #2 | South African Reserve Bank (SARB) | South Africa (ZAR) | 7.00% | 6.32% | +0.68% |
| #3 | Reserve Bank of India (RBI) | India (INR) | 6.25% | 4.99% | +1.26% |
| #4 | Bank of Mexico (BANXICO) | Mexico (MXN) | 5.75% | 2.82% | +2.93% |
| #5 | Bank Indonesia (BI) | Indonesia (IDR) | 4.75% | 3.53% | +1.22% |
| #6 | People's Bank of China (PBOC) | China (CNY) | 4.35% | 2.12% | +2.23% |
| #7 | Central Bank of Chile (BCCH) | Chile (CLP) | 3.50% | 3.80% | -0.30% |
| #8 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 1.75% | 0.65% | +1.10% |
| #9 | Reserve Bank of Australia (RBA) | Australia (AUD) | 1.50% | 1.28% | +0.22% |
| #10 | National Bank of Poland (NBP) | Poland (PLN) | 1.50% | -0.65% | +2.15% |
| #11 | Bank of Korea (BOK) | South Korea (KRW) | 1.25% | 0.97% | +0.28% |
| #12 | Federal Reserve (FED) | United States (USD) | 0.62% | 1.26% | -0.64% |
| #13 | Bank of Canada (BOC) | Canada (CAD) | 0.50% | 1.43% | -0.93% |
| #14 | Norges Bank (NORGES) | Norway (NOK) | 0.50% | 3.54% | -3.04% |
| #15 | Bank of England (BOE) | United Kingdom (GBP) | 0.25% | 0.64% | -0.39% |
| #16 | European Central Bank (ECB) | Euro Area (EUR) | 0.00% | 0.24% | -0.24% |
| #17 | Bank of Japan (BOJ) | Japan (JPY) | -0.10% | -0.11% | +0.01% |
| #18 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | -0.50% | 0.98% | -1.48% |
| #19 | Danmarks Nationalbank (DNB) | Denmark (DKK) | -0.65% | 0.26% | -0.91% |
| #20 | Swiss National Bank (SNB) | Switzerland (CHF) | -0.75% | -0.43% | -0.32% |
Surrounding Decade Context (2011-2021)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 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. |
| 2020 | 0.12% | 0.10% | -0.10% | 1.24% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2021 | 0.12% | 0.25% | -0.10% | 4.69% | Global monetary policy and central bank balance sheet ledger for 2021. |