Central bank policy rates
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 around 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. 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.
Research and publications
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 ...