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Key Central Bank Rates – March 2020

Caproasia Institute | March 2020

Caproasia Institute releases the Key Central Bank Rates for March 2020.

Data includes the latest central bank rates, previous rates, interest rate changes and effective date from last central bank announcement.

” In March 2020, Fed decrease Rate by 1.5%, Bank of England decrease rate by 0.65% “

The Key Central Banks:

  1. Fed – Federal Reserve
  2. ECB* – European Central Bank
  3. BOJ – Bank of Japan
  4. BOE – Bank of England
  5. BOC – Bank of Canada
  6. RBA – Reserve Bank of Australia
  7. RBNZ – Reserve Bank of New Zealand
  8. SNB – Swiss National Bank

More: 2018 Most Influential Central Banks

 

National Flags of European Countries

 

Key Central Bank Rates

S/NCountryCentral BankPrevious RateNew RateChangeEffective from
1United StatesFed1.50% – 1.75%0.00% – 0.25%Decrease 1.50%15/3/20
2European Union*ECB0%0%No Change12/3/20
3JapanBOJ-0.10%-0.10%No Change16/3/20
4United Kingdom**BOE0.75%0.10%Decrease 0.65%26/3/20
5CanadaBOC1.75%0.25%Decrease 1.50%27/3/20
6AustraliaRBA0.75%0.25%Decrease 0.50%19/3/20
7New ZealandRBNZ1.00%0.25%Decrease 0.75%16/3/20
8SwitzerlandSNB-0.75%-0.75%No Change19/3/20




 

Source: Caproasia Institute

March 2020 Meetings

All 8 key central banks held meetings in March 2020.  5 Central Banks decrease interest rate and 3 Central Banks maintain interest rates.

  • US (Fed) decrease interest rate to 0% – 0.25% range
  • ECB* maintain interest rate at 0.00%
  • Japan (BOJ) maintain interest rate at -0.10%
  • BOE** reduce interest rate to 0.10%
  • Canada (BOC) reduce interest rate to 0.25%
  • Switzerland (SNB) maintain interest rate at -0.75%
  • Australia (RBA) reduce interest rate to 0.25%
  • New Zealand (RBNZ) reduce to 0.25%

 


 

United States Central Bank (Fed) held 2 meetings in March 2020.

  • 3rd of March 2020 – decrease interest rate by 0.5% from 1.50% – 1.75% to 1% – 1.25% range
  • 15th of March 2020 – decrease interest rate by 1% to 0% to 0.25% range

In March 2020, the Fed decrease interest rate by a total of 1.5% from 1.50% – 1.75% range to 0% to 0.25% range.

European Central Bank (ECB) maintain interest rate at 0.00%.

Bank of Japan (BOJ) maintain interest rate at -0.10%.

Bank of England (BOE) held 3 meetings in March 2020.

  • 11th of March 2020 – BOE decrease interest rate by 0.25% from 0.75% to 0.50%.
  • 19th March 2020 – BOE decrease interest rate by 0.40% to 0.10%.
  • 26th March 2020 – BOE maintain interest rate at 0.10%.

In March 2020, BOE decrease interest rate by a total of 0.65% from 0.75% to 0.10%.

Bank of Canada (BOC) held 3 meetings in March 2020.

  • 4th March 2020 – BOC decrease interest by 0.50% from 1.75% to 1.25%.
  • 16th March 2020 – BOC decrease interest rate by 0.50% from 1.25% to 0.75%.
  • 27th March 2020 – BOC decrease interest rate by 0.50% from 0.75% to 0.25%.

Swiss National Bank (SNB) maintain interest rate at -0.75%.

Reserve Bank of Australia (RBA) held 2 meetings in March 2020.

  • 3rd March 2020 – RBA reduce interest rate by 0.25% from 0.75% to 0.50%.
  • 19th March 2020 – RBA reduce interest rate by 0.25% from 0.50% to 0.25%.

Reserve Bank of New Zealand (RBNZ) reduce interest rate by 0.75% from 1.00% to 0.25%.

 

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

Updated: 2nd April 2020

 

March 2020 Reports:
February 2020 Reports:

 

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.

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






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