Central Bank Rates Around the World

Below we highlight the central bank rates of major countries and regions around the world. We also provide where the rates stood just before the Fed cut the US Fed Funds Rate from 5.25% to 4.75% back in September. As shown, Brazil currently has the highest central bank rate at 11.25%, followed by Russia (10%) and China (7.29%). Japan is by far the lowest down at 0.50%. Since September, the US has cut rates by 325 basis points, which ties Hong Kong for the biggest cut in rates. Canada has cut the third most at 1.5%, and the UK is the only other country in the list that has cut (-0.75%). Five countries have raised rates since the US starting cutting -- China, Mexico, Australia, Russia and Brazil.

In the bottom chart, we provide a historical look at the central bank rates of G-7 countries since the start of 2006 (France, Italy and Germany are under the ECB). As shown, the US has been the most aggressive easer of the bunch during the credit crisis.