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We are informing you about an update to the <a href='https://stats.bis.org/api-doc/v1/' target='_blank'>BIS SDMX v1 API</a>, 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 <a href='https://stats.bis.org/api-doc/v2/' target='_blank'>BIS SDMX v2 API</a> at your earliest convenience, as the <a href='https://stats.bis.org/api-doc/v1/' target='_blank'>BIS SDMX v1 API</a> will be phased out later in the year.

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Content description abstract

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.

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https://www.bis.org/statistics/cbpol/cbpol_doc.pdf

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 <a href='/release-calendar?filter=categoryId%3DCBPOL'>Statistics release calendar</a>.

How often and when are the policy rate series updated?

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Explore the central bank policy rates dashboard to get quick visual insights into our statistics, analyse country and global developments and build your own data stories. This data set contains the long series on central bank policy rates.

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https://dataviz.bis.org/t/DataPortal/views/cbpol/Main

Daily data are reported directly to the BIS by the member central banks.

What are the main sources for the policy rates series?

The data set presents the target or, if not applicable, the traded rate for the central bank's main policy instrument.

What is the main policy rate and how is it selected?

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.

Which interest rate does the BIS publish for periods when monetary policy was not conducted with an interest rate instrument?

Central bank policy rates (SDMX2.1 Compact)

/static/bulk/WS_CBPOL_sdmx-compact-2.1.zip

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.

Which interest rate does the BIS publish when the central bank communicates a target band/corridor?

Central bank policy rates (SDMX2.1 Generic)

/static/bulk/WS_CBPOL_sdmx-generic-2.1.zip

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.

What happens in the series if the central bank changes its main policy instrument?

Central bank policy rates

Dashboards

Central bank policy rates dashboard