A close up of the eagle statue on the the Marriner S. Eccles building / Credit: U.S. Government

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Influential Central Bank Rates – October 2019

Caproasia Institute | October 2019

The world’s top 10 most influential Central Bank Rates for October 2019 – 2018 GDP.

Caproasia Institute releases the top 10 most influential central bank rates ranked by 2018 GDP for the month of October 2019.  Data includes the latest central bank rates, previous rates, interest rate changes and effective date from last central bank announcement.

” The 10 central banks represent $64.97 trillion or 75.72% of 2018 global GDP “

The 10 most influential Central Banks:

  1. Fed – Federal Reserve (United States)
  2. ECB – European Central Bank* (European Union)
  3. PBOC – People’s Bank of China (China)
  4. BOJ – Bank of Japan (Japan)
  5. BOE – Bank of England (United Kingdom**)
  6. RBI – Reserve Bank of India (India)
  7. BCB – Banco Central do Brasil (Brazil)
  8. BOC – Bank of Canada (Canada)
  9. CBR – Central Bank of Russia (Russia)
  10. RBA – Reserve Bank of Australia^ (Australia)

Reference: 2018 Most Influential Central Banks

October 2019 Reports:

 

Useful Links:

Events & Coverage:

 

 

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

 

Influential Central Bank Rates – October 2019

S/NCountryCentral BankPrevious RateNew RateChangeEffective from
1United StatesFed1.75% – 2%1.50% – 1.75%– 0.25%30/10/19
2European Union*ECB0.00%0.00%No Change24/10/19
3ChinaPBOC4.20%4.20%No Change21/10/19
4JapanBOJ-0.10%-0.10%No Change31/10/19
5United Kingdom**BOE0.75%0.75%No Change19/09/19
6IndiaRBI5.40%5.15%– 0.25%04/10/19
7BrazilBCB5.50%5.00%– 0.5%31/10/19
8CanadaBOC1.75%1.75%No Change30/10/19
9RussiaCBR7.00%6.50%– 0.50%25/10/19
10Australia^RBA1.00%0.75%– 0.25%02/10/19

 

Source: Caproasia Institute

 

October 2019 Changes

  • Fed decrease interest rate by 0.25% from 1.75% – 2.0% to 1.50% – 1.75% range
  • RBI decrease interest rate by 0.25% from 5.4% to 5.15%
  • BCB decrease interest rate by 0.50% from 5.5% to 5.0%
  • CBR decrease interest rate by 0.50% from 7% to 6.5%
  • RBA decrease interest rate by 0.25% from 1.00% to 0.75%

Unchanged

  • ECB maintain interest rate at 0.00%
  • PBOC maintain interest rate at 4.20%
  • BOJ maintain interest rate at -0.10%
  • BOE maintain interest rate at 0.75% (Sept 2019)
  • BOC maintain interest rate at 1.75%

*ECB – Main refinancing operations: 0%, Marginal lending facility: 0.25%, Deposit facility: – 0.50%

 

Updated: 1st November 2019

Data Source: Caproasia Institute, Central Banks, European Union, World Bank, International Monetary Fund

 

Notes

* The European Central Bank represents 19 European nations using Euro (€) as official currency.  The 19 nations are Germany, Spain, France, Italy, Netherlands, Belgium, Estonia, Ireland, Greece, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Austria, Portugal, Slovenia, Slovakia and Finland.  The European Union GDP and Population includes only the 19 European nations that are members of European Central Bank.

European Union (EU) comprises of 28 nations.  The 28 nations are Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom.

On 29th March 2017, the UK notified the European Council of its intention to leave the EU by triggering of Article 50 of the Lisbon Treaty.  The United Kingdom currently remains a full member of the EU.  The total GDP of European Union including United Kingdom is $18.75 trillion (21.86% of global GDP).  The 19 nations that are members of European Central Bank has a total GDP of $13.67 trillion (15.94% of global GDP).

** United Kingdom comprises of 4 countries: England, Scotland, Wales and Northern Ireland.

^ The 10th spot of Bank of Korea (BOK) with 2018 GDP $1.61 trillion had been replaced with Reserve Bank of Australia (RBA) with 2018 GDP $1.43 trillion.  The replacement is due to RBA interest rate, debt instruments and currency (AUD) attracts higher international investment and trading demand.

GDP refers to Nominal GDP (US$). The data includes 219 countries or territories.

 

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