Top 100 Countries by Central Bank Policy Interest Rate (%), Dec 2025 Snapshot
A central bank policy rate (also called a benchmark, key, or monetary policy rate) is the interest rate that anchors short-term funding conditions in an economy. Some central banks set a single “policy rate”, while others operate a corridor (deposit / lending facilities) or guide money-market rates via liquidity operations. In all cases, the goal is similar: influence inflation, credit, currency pressure, and demand—without creating unnecessary volatility in the financial system.
This ranking uses a plain-English “snapshot” approach: we compare headline policy rates across countries as of December 2025. A high nominal policy rate often signals one (or several) of the following: persistent inflation, currency defense under capital outflows, a credibility rebuild after past inflation, or fiscal-financial risk that forces the central bank to keep conditions tight. A low rate can mean subdued inflation, weak demand, or a deliberate easing cycle after earlier tightening.
- Why the same number means different things: 10% in a low-inflation economy is extreme; 10% with double-digit inflation may still be “not tight enough” in real terms.
- Compare direction, not just the level: a country cutting from 20% to 18% is still tight, but the trend is easing.
- Real vs nominal: to approximate “real tightness,” you need inflation and expectations, not the policy rate alone.
| Rank | Country | Policy rate |
|---|
A global ranking is useful, but it can be misleading if you read it like a scoreboard. Central banks react to different mixes of inflation dynamics, currency regimes, credit cycles, and fiscal conditions. A 6% policy rate in a low-inflation, high-credibility system can be restrictive; the same 6% rate in a country with 10–15% inflation may still be accommodative in real terms. That is why investors and analysts often translate “nominal policy rate” into a rough “real policy stance” by subtracting inflation (or expected inflation).
In 2025, many economies lived in a two-speed world. Some were clearly in policy easing mode after earlier tightening, because inflation fell and growth slowed. Others had to keep rates elevated due to sticky inflation, FX pressure, or the need to restore monetary credibility. Countries with very high rates often face a combination of inflation persistence and confidence risks: the policy rate becomes a signal as much as a tool—used to anchor expectations and discourage self-reinforcing price and currency spirals.
- Inflation targeting and credibility: in an inflation-targeting regime, the policy rate is the main steering wheel. Credibility matters: if households and firms trust the target, the central bank may not need extreme hikes to slow prices.
- Policy tightening vs rate cuts: the level tells you “where we are,” while the recent change tells you “where we’re going.” A country can still rank high while actively cutting.
- Real vs nominal rate: even a very high nominal rate can be negative in real terms if inflation is higher. Conversely, a modest nominal rate can be strongly positive if inflation is low.
- Currency and external financing: economies reliant on external funding sometimes keep rates higher to reduce capital outflow risk, especially when global risk appetite weakens.
Next: a distribution view—how many of the Top 100 sit in each policy-rate “bucket.” This helps you see clustering rather than only extremes.
Use the search box to find a country instantly and the sort toggle to switch between “highest rate first” and “lowest rate first” within the Top 100 set. This is meant for comparisons and context—not as a forecast tool. Policy rates can change quickly after inflation surprises, currency shocks, or shifts in fiscal stance, so treat any snapshot as a point-in-time reference.
A practical way to use this list is to build “peer groups.” Compare countries with similar inflation history or exchange-rate regimes rather than comparing every country to every other country. For example, an economy that pegs its currency may move rates in lockstep with the anchor currency, while a floating-rate inflation-targeter may adjust rates pre-emptively based on domestic forecasts. Likewise, a country with shallow local capital markets may rely on the policy rate mainly as a signal, while market rates and credit conditions respond with delays.
| Rank | Country | Policy rate (%) |
|---|
Methodology: headline benchmark policy rates (nominal) for December 2025. Where central banks operate a corridor, the published “policy / key / benchmark” rate is used as shown in the compilation source. Always verify the most recent decision on the central bank site if you need “today’s” level for trading or compliance.
Caveats: policy rates are not directly comparable across different operating frameworks; some countries rely on reserve requirements, capital controls, or administrative credit tools. Also, a high policy rate can coexist with weak transmission if bank lending is regulated or dollarized. Use this ranking as a starting point, then zoom into inflation, FX regime, and credibility indicators.
Use these official sources to verify “current” benchmark / key policy rates and the most recent decisions. For global comparisons and historical series, BIS provides a consolidated dataset; for exact “today” rates, always check the relevant central bank release.
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BIS Data Portal — Central bank policy rates (CBPOL)
Global dataset for policy rates (time series, downloads / table view).
Overview · Data view -
European Central Bank (ECB) — Key ECB interest rates
Official ECB page for deposit facility, MRO, and marginal lending facility rates.
ECB key interest rates -
U.S. Federal Reserve — FOMC statement (policy decision)
Official press release with the target range for the federal funds rate.
Federal Reserve press release -
Bank of England — Bank Rate (latest decision)
Official page summarizing the latest Bank Rate decision and context.
BoE — Bank Rate decision -
Central Bank of the Republic of Türkiye (TCMB) — MPC meeting decisions
Official Monetary Policy Committee decisions (policy rate / one-week repo auction rate).
TCMB — MPC decisions -
National Bank of Ukraine (NBU) — Key policy rate decision
Official NBU news release for the latest key policy rate decision.
NBU — decision release -
Banco Central do Brasil (BCB) — Copom statements (Selic target)
Official Copom statements for the Selic rate target decisions.
BCB — Copom statements -
Bank of Japan (BoJ) — Statements on Monetary Policy (official list + PDFs)
Official BoJ index page linking to policy decisions and statements (PDFs).
BoJ — Statements (2025)
Tip for compliance/anti-plagiarism: keep this “Primary sources” block as a separate section at the end, and avoid using Wikipedia as the only reference. You can still cite Wikipedia for convenience, but it should not be the single source for rate levels.
Download the complete dataset used in this ranking, including CSV tables and PNG images of the charts. The archive is ready for offline analysis and reuse in reports.
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