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 – February 2020

Caproasia Institute | February 2020

Caproasia Institute releases the top 10 most influential central bank rates for the month of February 2020, ranked by 2018 GDP.

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)

Related: 2018 Most Influential Central Banks


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


Influential Central Bank Rates – February 2020

S/N Country Central Bank Previous Rate New Rate Change Effective from
1 United States Fed 1.50% – 1.75% 1.50% – 1.75% No Change 29/1/20
2 European Union* ECB 0.00% -0.00% No Change 23/1/20
3 China PBOC 4.15% 4.05% Decrease 0.10% 20/2/20
4 Japan BOJ -0.10% -0.10% No Change 21/1/20
5 United Kingdom** BOE 0.75% 0.75% No Change 30/1/20
6 India RBI 5.15% 5.15% No Change 6/2/20
7 Brazil BCB 4.50% 4.25% Decrease 0.25% 6/2/20
8 Canada BOC 1.75% 1.75% No Change 22/1/20
9 Russia CBR 6.25% 6.00% Decrease 0.25% 7/2/20
10 Australia^ RBA 0.75% 0.75% No Change 4/2/20


Source: Caproasia Institute

February 2020 Meetings

There are 5 central bank meetings in February 2020.  PBOC (People’s Bank of China) decreased interest rate by 0.10% from 4.15% to 4.05%.  RBA (Reserve Bank of Australia) maintained interest rate at 0.75%.  RBI (Reserve Bank of India) maintained interest rate at 5.15%.  BCB (Banco Central do Brasil) decreased interest rate by 0.25% from 4.50% to 4.25%.  CBR (Central Bank of Russia) decreased interest rate by 0.25% from 6.25% to 6.00%.

  • Australia maintain interest rate at 0.75%
  • China decrease interest rate by 0.10% from 4.15% to 4.05%
  • India maintain interest rate at 5.15%
  • Brazil decrease interest rate by 0.25% from 4.50% to 4.25%
  • Russia decrease interest rate by 0.25% from 6.25% to 6.00%


Previous Meetings

  • US (Fed) maintain interest rate at 1.5% – 1.75% range (Jan 2020)
  • ECB* maintain interest rate at 0.00% (Jan 2020)
  • Japan maintain interest rate at -0.10% (Jan 2020)
  • BOE** maintain interest rate at 0.75% (Jan 2020)
  • Canada maintain interest rate at 1.75% (Jan 2020)


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


Updated: 4th March 2020


February 2020 Reports:



* 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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