Interactive Market Utility
Central Bank Interest Rates
Track policy interest rates across global economies. Monitor the dates of recent cuts, hikes, and upcoming meetings.
Current Policy Rates
| Bank & Currency | Policy Rate | Last Action | Next Meeting | Bias |
|---|---|---|---|---|
| Federal Reserve (Fed) (USD) | 5.25% - 5.50% | -0.25% (Sept 2025) | June 17, 2026 | Neutral |
| European Central Bank (ECB) (EUR) | 4.00% | -0.25% (Oct 2025) | June 04, 2026 | Dovish |
| Bank of England (BoE) (GBP) | 5.00% | -0.25% (Nov 2025) | June 18, 2026 | Neutral |
| Reserve Bank of Australia (RBA) (AUD) | 4.35% | +0.25% (Nov 2024) | June 16, 2026 | Hawkish |
| Bank of Canada (BoC) (CAD) | 4.50% | -0.25% (Dec 2025) | June 03, 2026 | Dovish |
| Swiss National Bank (SNB) (CHF) | 1.25% | -0.25% (June 2025) | June 18, 2026 | Neutral |
| Bank of Japan (BoJ) (JPY) | 0.25% | +0.15% (July 2025) | June 19, 2026 | Hawkish |
How Rates Impact Forex
Interest rates are the primary driver of exchange rates. Central banks adjust interest rates to manage inflation and stimulate economic growth.
📈 Rate Hikes (Hawkish)
Higher interest rates attract foreign capital seeking higher yields, typically causing the national currency to **appreciate** in value.
📉 Rate Cuts (Dovish)
Lower interest rates discourage foreign investment and encourage domestic borrowing, typically causing the currency to **depreciate**.
💵 The Carry Trade Concept
Traders exploit interest rate differentials by borrowing a low-yielding currency (like JPY at 0.25%) to buy a high-yielding currency (like USD at 5.50%), pocketing the daily difference in rollover fees (Swap).