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The Marriner S. Eccles building built in 1937 / Credit: U.S. Government

2016 Top 10 Most Influential Central Banks in the World

Which is the most influential Central Bank in 2016?  Is it the FED or PBOC?  Which Central Bank set the lowest interest rate in 2016? Who has the highest interest rate?

10Reserve Bank of Australia (RBA)

Reserve Bank of Australia Boardroom / Credit: RBA

Reserve Bank of Australia (RBA) is the 10th most influential Central Bank.  It is the Central Bank for Australia, with a $1.33 trillion economy that represents 1.79% of global economy.

On 8th February 2016, RBA set the Central Bank rate at 1.5%.

 

9Central Bank of Russia (CBR)

Bank of Russia Governor Elvira Nabiullina and Prosecutor General of the Russian Federation Yuri Chaika / Credit: CBR

Central Bank of Russia (CBR) is the 9th most influential Central Bank in the world.  Russia has an economy of $1.33 trillion that represents 1.79% of world’s GDP.

On 16th September 2016, it adjusted the interest rate to 10%.

 

8Bank of Canada (BOC)

Governor Poloz and SDG Wilkins / Credit: Bank of Canada

Bank of Canada (BOC) is the 8th most influential Central Bank in the world.  It is the Central Bank for Canada, a country with a $1.55 trillion economy that represents 2.09% of global GDP.

On 15th July 2015, it set the Central Bank rate at 0.50%.

 

7Banco Central do Brasil (BCB)

Brasília/DF – Edifício-Sede / Credit Rodrigo Oliveira/Caixa Econômica Federal

Banco Central do Brasil (BCB) is the 7th most influential Central Bank.  The Central Bank for Brazil, a country with a $1.77 trillion economy, adjusted the interest on 22nd February 2017 to 12.25%.

At 12.25%, it remains the Central Bank with the highest interest rate on this list.

 

6Reserve Bank of India (RBI)

Reserve Bank of India Building / Credit: Wikipedia

Reserve Bank of India (RBI) is the 6th most influential Central Bank in the world.  It is the Central Bank for India with a GDP of $2.09 trillion that represents 2.09% of world’s GDP.

On 4th October 2016, the Central Bank rate was set at 6.25%, the highest interest rate of the Central Bank’s rate in Asia on this list.

 

5Bank of England (BOE)

Bank of England Building in 1897 / Credit: Bank of England

Bank of England (BOE) is the 5th most influential Central Bank, and is the Central Bank for United Kingdom (UK).  On 4th August 2016, Bank of England adjusted the interest rate to 0.25%.  United Kingdom have a $2.85 trillion economy, that represents 3.84% of global GDP.

United Kingdom (UK) is made up of 4 countries: England, Scotland, Wales and Northern Ireland.  The full name of UK is United Kingdom of Great Britain and Northern Ireland.

 

4Bank of Japan (BOJ)

Bank of Japan Headquarters in Tokyo / Credit: Bank of Japan, Wikipedia

Bank of Japan (BOJ) is the 4th most influential Central Bank in the world.  The 3rd largest economy in the world, Japan has a $4.38 trillion economy that represents 5.91% of global GDP.

On 2nd January 2016, Bank of Japan set the interest rate at  -0.10%, the only Central Bank on this list to have a negative interest rate policy.

 

3People’s Bank of China (PBOC)

People’s Bank of China / Credit: Wikipedia and Yongxinge

People’s Bank of China (PBOC) is the 3rd most influential Central Bank in the world.  With a $11 trillion economy that represents 14.83% of global GDP, it last lowered interest rate to 4.35% on the 3rd October 2015.

 

2European Central Bank (ECB)

European Central Bank 15 Years of Euro in Circulation / Credit: European Central Bank

European Central Bank (ECB) lowered interest rate to 0% on the 10th March 2016.  It has 19 member nations with a total GDP of $11.60 trillion or 15.64% of global GDP.

The 19 nations that follow the ECB interest rates are:

  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Belgium
  • Austria
  • Ireland
  • Finland
  • Portugal
  • Greece
  • Slovak Republic
  • Luxembourg
  • Slovenia
  • Lithuania
  • Latvia
  • Estonia
  • Cyprus
  • Malta

 

1Federal Reserve System (The Fed)

Federal Reserve Interior Boardroom / Credits: U.S. Government

The Federal Reserve System, commonly known as the Fed, is the most influential Central Bank in 2016.  The Central Bank is behind the world’s largest economy – United States of America with a total GDP of $18.03 trillion or 24.31% of global GDP.

On 14th December 2016, it raised the interest rate to the range of 0.5% – 0.75%.

Combined, the world’s 10 most influential Central Banks have a GDP of $55.93 trillion in 2016.  This represents 75.43% of global GDP and is more than 3/4 of the world’s GDP, thus making them the 10 most influential Central Banks in 2016.

* GDP are quoted in 2015 figures
** ECB has 19 member nations.

Source: Caproasia Institute

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