World central banks use the key rate to control the financial activities of commercial banks. Changes in rates have impact on the bank lending rates and, as a result, cost of loans for credit rates such as consumer loans and mortgages.
The higher the key interest rate level, the higher the loan rate is. In addition, the key rate influences currency quotes.
The table shows the interest rates of world central banks.
| Country | Rate | Value |
|---|---|---|
| USA | Federal Funds | 1,75 % |
| Switzerland | 3 Month LIBOR Range | -0,25 % |
| United Kingdom | Repo Rate | 1,25 % |
| EU | Refinancing Tender | 0,00 % |
| Japan | Overnight Call Rate | -0,10 % |
| New Zealand | Official Cash Rate | 2,00 % |
| Australia | Cash Rate | 0,85 % |
| Canada | Overnight Rate Target | 1,50 % |
