Global Interest Rates & Central Bank Statistics in 2024
G10 policy rates peak and pivot toward gradual monetary normalization Inspect 12 headline monetary indicators and 20 reporting central bank policy rates recorded in 2024.
Headline Monetary Indicators in 2024
Federal Reserve
Rank #31 of 73 yrs
Federal Funds Effective Rate (United States)
2024 Reading 4.38%
YoY Change -1.00 pp
European Central Bank
Rank #6 of 28 yrs
ECB Main Policy Interest Rate (Euro Area)
2024 Reading 3.00%
YoY Change -1.50 pp
Bank of England
Rank #45 of 81 yrs
Bank of England Official Base Rate (United Kingdom)
2024 Reading 4.75%
YoY Change -0.50 pp
Bank of Japan
Rank #56 of 75 yrs
Bank of Japan Policy Interest Rate (Japan)
2024 Reading 0.25%
YoY Change +0.35 pp
Reserve Bank of Australia
Rank #34 of 51 yrs
RBA Cash Rate Target (Australia)
2024 Reading 4.35%
YoY Change 0.00 pp
Swiss National Bank
Rank #63 of 81 yrs
Swiss National Bank Policy Interest Rate (Switzerland)
2024 Reading 0.50%
YoY Change -1.25 pp
Bank of Canada
Rank #44 of 67 yrs
Bank of Canada Target Overnight Rate (Canada)
2024 Reading 3.25%
YoY Change -1.75 pp
Federal Reserve
Rank #51 of 113 yrs
United States Inflation Rate (CPI YoY %)
2024 Reading 2.95%
YoY Change -1.19 pp
Bank of England
Rank #69 of 113 yrs
United Kingdom Inflation Rate (CPI YoY %)
2024 Reading 2.55%
YoY Change -4.82 pp
Federal Reserve
Rank #5 of 113 yrs
Federal Reserve Balance Sheet Total Assets (USD)
2024 Reading $6,885.96B
YoY Change $-826.82B
Federal Reserve
Rank #2 of 66 yrs
United States Foreign Exchange & Gold Reserves (USD)
2024 Reading $910.04B
YoY Change +$136.61B
Federal Reserve
Rank #11 of 63 yrs
US Dollar (USD) Real Effective Exchange Rate (REER)
2024 Reading 109.40
YoY Change +2.44
Central Bank Policy Rates & Real Interest Rates in 2024 (20 Monetary Authorities)
| Rank | Central Bank | Country / CCY | 2024 Policy Rate | 2024 CPI Inflation | 2024 Ex-Post Real Rate |
|---|---|---|---|---|---|
| #1 | Central Bank of Brazil (BCB) | Brazil (BRL) | 12.25% | 4.37% | +7.88% |
| #2 | Bank of Mexico (BANXICO) | Mexico (MXN) | 10.00% | 4.72% | +5.28% |
| #3 | South African Reserve Bank (SARB) | South Africa (ZAR) | 7.75% | 4.44% | +3.31% |
| #4 | Reserve Bank of India (RBI) | India (INR) | 6.50% | 4.98% | +1.52% |
| #5 | Bank Indonesia (BI) | Indonesia (IDR) | 6.00% | 2.30% | +3.70% |
| #6 | National Bank of Poland (NBP) | Poland (PLN) | 5.75% | 3.80% | +1.95% |
| #7 | Central Bank of Chile (BCCH) | Chile (CLP) | 5.00% | 4.26% | +0.74% |
| #8 | Bank of England (BOE) | United Kingdom (GBP) | 4.75% | 2.55% | +2.20% |
| #9 | Norges Bank (NORGES) | Norway (NOK) | 4.50% | 3.19% | +1.31% |
| #10 | Federal Reserve (FED) | United States (USD) | 4.38% | 2.95% | +1.43% |
| #11 | Reserve Bank of Australia (RBA) | Australia (AUD) | 4.35% | 3.17% | +1.18% |
| #12 | Reserve Bank of New Zealand (RBNZ) | New Zealand (NZD) | 4.25% | 2.93% | +1.32% |
| #13 | Bank of Canada (BOC) | Canada (CAD) | 3.25% | 2.39% | +0.86% |
| #14 | People's Bank of China (PBOC) | China (CNY) | 3.10% | 0.24% | +2.86% |
| #15 | European Central Bank (ECB) | Euro Area (EUR) | 3.00% | 2.37% | +0.63% |
| #16 | Bank of Korea (BOK) | South Korea (KRW) | 3.00% | 2.33% | +0.67% |
| #17 | Sveriges Riksbank (RIKSBANK) | Sweden (SEK) | 2.75% | 2.86% | -0.11% |
| #18 | Danmarks Nationalbank (DNB) | Denmark (DKK) | 2.60% | 1.38% | +1.22% |
| #19 | Swiss National Bank (SNB) | Switzerland (CHF) | 0.50% | 1.06% | -0.56% |
| #20 | Bank of Japan (BOJ) | Japan (JPY) | 0.25% | 2.75% | -2.50% |
Surrounding Decade Context (2019-2026)
| Year | Fed Funds | BoE Rate | BoJ Rate | US CPI | Context |
|---|---|---|---|---|---|
| 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. |
| 2022 | 4.38% | 3.50% | -0.10% | 8.01% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2023 | 5.38% | 5.25% | -0.10% | 4.14% | Global monetary policy and central bank balance sheet ledger for 2023. |
| 2024 | 4.38% | 4.75% | 0.25% | 2.95% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2025 | 3.62% | 3.75% | 0.75% | 2.69% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2026 | 3.88% | 3.75% | 1.25% | 3.30% | Global monetary policy and central bank balance sheet ledger for 2026. |