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Updates
3 May 2024
We are informing you about an update to the BIS SDMX v1 API, which has been realigned to match the data structure of the BIS Data Portal.
The WS_CBPOL dataflow now incorporates all CBPOL content that was previously found in both the WS_CBPOL_M and WS_CBPOL_D dataflows.

To ensure the smooth continuation of your services, we kindly ask you to modify your scripts to reflect this change.

We strongly advise that you upgrade to the BIS SDMX v2 API at your earliest convenience, as the BIS SDMX v1 API will be phased out later in the year.

About

The BIS central bank policy rates data set tracks the evolution of policy rates across the world. The policy rate is an important instrument used by central banks to implement their monetary policy.

The central bank policy rates data set features long time series for more than 40 advanced and emerging market economies, on a daily and monthly frequency.

This data set is unique in three respects. First, the BIS has closely collaborated with national central banks in the selection of the policy rate(s). Depending on the country, the policy rate may correspond to the target, repo or discounting rate. For periods when monetary policy was not conducted with an interest rate instrument, eg under monetary base targeting, the most widely referenced money market or central bank interest rate is taken.

Second, the data set also contains historical data to construct long, spliced series. Most daily series start after 1980, with data going back to 1946 for several economies. From January 2024, the BIS disseminates historical policy rates for selected euro area countries. Third, the series are published along extensive metadata, which detail, for example, the underlying series spliced into the main policy rate or the time lag between the announcement of the policy rate change and the day it becomes effective.

For the methodological choices underpinning the construction of the long, spliced series on central bank policy rates, see "Recent enhancements to the BIS statistics", BIS Quarterly Review, September 2017.

Metadata

Seasonal adjustment
Non seasonally adjusted
Frequencies
Monthly
Daily
Contact
BIS statistics
Units
Per cent per year
Collection Indicators
End of period
Next release date
Last release date
All release dates
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Methodology

Long series on central bank policy rates

The data set presents the target or, when that is not available, the traded rate for the central bank's main policy instrument. Several central banks implement their monetary policy based on more than one interest rate. For central banks that communicate a target band, the middle of the band is shown unless the central bank has suggested that a different rate be shown. For central banks that changed their main policy instruments during the period covered in the data set, the BIS time series show the sequence of policy instruments used to conduct monetary policy in consecutive periods. The documentation identifies the breaks for all these time series.

Research and publications

Recent enhancements to the BIS statistics

The BIS regularly seeks to enhance its statistical offerings to support monetary and financial stability analysis, in close coordination with central banks and other national authorities and international organisations. The exposure of economies to foreign currency risk is one potential source of vulnerability that has received increased attention in recent years, and the relevant data gaps are being addressed in the second phase of the Data Gaps Initiative (DGI) endorsed by the G20 (BIS-FSB-IMF (2015), FSB-IMF (2017)). Concurrently with this issue of the Quarterly Review, the BIS is expanding the data it publishes on exchange rates, on the currency composition of cross-border positions and on ...

Glossary

The interest rate which best captures the monetary authorities' policy intentions.
USD per Pound
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FAQs

Daily data are released around mid-week. Monthly data are derived from daily data and correspond to the value of the last business day of the reference month. The publication date and the latest reference period are shown in the Statistics release calendar.
Daily data are reported directly to the BIS by the member central banks.
The data set presents the target or, if not applicable, the traded rate for the central bank's main policy instrument.
The BIS shows the most widely referenced money market or central bank interest rate for the periods when monetary policy was not conducted with an interest rate instrument.
For central banks that communicate a target band, the figure shown in the series corresponds to the middle of the band unless the central bank has suggested a different rate to be shown.
For central banks that changed their main policy instruments during the period covered in the data set, the BIS time series show the sequence of policy instruments used to conduct monetary policy in consecutive periods. The documentation identifies the breaks.