Stoppo la vena e passo all'arteria
FACTBOX-Global interest rates
Mon Jul 24, 2006 8:05am ET
July 24 (Reuters) - The Bank of Japan raised interest rates for the first time in six years on July 14, lifting its overnight call rate to 0.25 percent from zero.
As a result the average rate set by the central banks of the Group of Seven nations rose to 3.40 percent from 3.35 percent while the average rate set by 11 leading central banks -- the five that decide monetary policy for the G7 nations plus six other major banks -- rose to 3.59 percent from 3.57 percent.
The following table of average rates is aimed at reflecting the movement of official policy rates during the economic cycle rather than actual borrowing costs.
2006 MONTH: END04..END05..01...02...03...04...05...06...07...08...09...10...11...12 ------------------------------------------------------------------------------ G7 AVG: 2.30 2.85 2.95 - 3.10 3.15 3.25 3.35 3.40 - - - - - 11 AVG: 2.72 3.10 3.17 3.20 3.34 3.36 3.45 3.57 3.59 - - - - - ------------------------------------------------------------------------------ FED 2.25 4.25 4.5 - 4.75 - 5.0 5.25 - - - - - - BOJ 1) 0.00 0.00 - - - - - - 0.25 - - - - - ECB 2.00 2.25 - - 2.50 - - 2.75 - - - - - - BOE 4.75 4.50 - - - - - - - - - - - - BOC 2.50 3.25 3.5 - 3.75 4.0 4.25 - - - - - - - ------------------------------------------------------------------------------ SNB 2) 0.75 1.00 - - 1.25 - - 1.5 - - - - - - RBA 5.25 5.50 - - - - 5.75 - - - - - - - RBNZ 6.50 7.25 - - - - - - - - - - - - RIKSBK 2.00 1.50 1.75 2.0 - - - 2.25 - - - - - - NORWAY 1.75 2.25 - - 2.50 - 2.75 - - - - - - - DNMRK 2.15 2.40 - 2.50 2.75 - - 3.0 - - - - - - ------------------------------------------------------------------------------ NO. OF RATE CHANGES: 2005: 22 3 2 6 1 4 5 1 - - - - - ------------------------------------------------------------------------------ MONTH: END04..END05..01...02...03...04...05...06...07...08...09...10...11...12 ------------------------------------------------------------------------------ EASTERN EUROPE: NBP 6.50 4.50 4.25 4.00 - - - - - - - - - - NBH 9.50 6.00 - - - - - 6.25 6.75 - - - - - CNB 2.50 2.00 - - - - - - - - - - - - NBS 4.00 3.00 - 3.50 - - 4.00 - - - - - - - SLOV 4.00 4.00 - 3.75 3.5 - - 3.25 - - - - - - ------------------------------------------------------------------------------ LATIN AMERICA: BRAZ 17.75 18.00 17.25 - 16.5 15.75 15.25 - 14.75 - - - - - MEX 3) 8.5 8.2 7.9 7.6 7.4 7.2 7.0 7.0 - - - - - - CHIL 2.25 4.5 - 4.75 - 5.0 - - 5.25 - - - - - ------------------------------------------------------------------------------ ASIA KOREA 3.25 3.75 - 4.0 - - - 4.25 - - - - - - THAI 2.00 4.00 4.25 - 4.5 4.75 - 5.0 - - - - - - PHIL 6.75 7.50 - - - - - - - - - - - - TAIWN 1.75 2.25 - - 2.375 - - 2.5 - - - - - - INDS 4) 7.4 12.75 - - - 12.50 - - 12.25 - - - - - INDIA 4.75 5.25 5.5 - - - - 5.75 - - - - - - ------------------------------------------------------------------------------ MIDDLE EAST/AFRICA: SARB 7.5 7.0 - - - - - 7.5 - - - - - - ISRL 3.7 4.5 4.75 - 5.0 5.25 - - - - - - - - TURK 18.0 13.5 - - - 13.25 - 17.25 17.50 - - - - - ------------------------------------------------------------------------------ MONTH: DEC04..DEC05..01...02...03...04...05...06...07...08...09...10...11...12
NOTES:
If rates change more than once a month, the last rate for that month is listed.
1. On July 14, 2006 the Bank of Japan raised interest rates for the first time in six years, lifting its overnight call rate to 0.25 percent from zero. This followed a move on March 9, 2006 when the BOJ said it would no longer set a target for the amount of surplus funds in the money market, ending its "quantitative easing" policy, and adopted a more conventional tactic of guiding the unsecured overnight call rate. Since March 19, 2001 the call rate had been effectively zero as the BOJ had targeted the outstanding balance of current account deposits that banks and other institutions hold at the BOJ.
2. The Swiss National Bank targets a range for the three-month Swiss franc LIBOR rate. The SNB currently aims for the mid-point within the target band.
3. The Bank of Mexico manages reserve money through weekly open market operations. The benchmark is the 28-day treasury bills, Cetes. This is a monthly average rate, rounded to one decimal.
4. Since July 2005 the Bank Indonesia (BI) rate has been the official target for one-month securities. The comparative for end-2004 is the one month Sertifikat Bank Indonesia (SBI) rate from the last auction of the year, rounded to one decimal place. ------------------------------------------------------------------------------
INTEREST RATES. (All the interest rates are policy rates identified by each central bank.):
GROUP OF SEVEN CENTRAL BANKS:
U.S FEDERAL RESERVE = federal funds rate
BANK OF JAPAN = overnight call rate
EUROPEAN CENTRAL BANK = refi rate
BANK OF ENGLAND = repo rate
BANK OF CANADA = overnight funding rate
MAJOR CENTRAL BANKS:
SWISS NATIONAL BANK = 3-month Swiss Libor
RESERVE BANK OF AUSTRALIA = cash rate
RESERVE BANK OF NEW ZEALAND = cash rate
SWEDISH RIKSBANK = repo rate
NORGES BANK = deposit rate
DENMARKS NATIONALBANK = 2-week cd rate
EASTERN EUROPE:
NATIONAL BANK OF POLAND (NBP): 28-day intervention rate
NATIONAL BANK OF HUNGARY: (NBH) 2-week deposit rate
CZECH NATIONAL BANK (CNB): 2-week repo rate
NATIONAL BANK OF SLOVAKIA (NBS): 2-week limit repo rate
BANK OF SLOVENIA: 60-day tolar bill rate
LATIN AMERICA:
CENTRAL BANK OF BRASIL (BCB): Selic rate
CENTRAL BANK OF CHILE (BCC): Discount rate
BANK OF MEXICO: 28 day Cetes rate
ASIA:
BANK OF KOREA: Overnight call rate
BANK OF THAILAND: 14-day repurchase rate
CENTRAL BANK OF PHILIPPINES: Overnight borrowing rate
CENTRAL BANK OF CHINA (TAIWAN): Discount rate
BANK INDONESIA: Bank Indonesia (BI) reference rate
RESERVE BANK OF INDIA: Reverse repo rate
MIDDLE EAST/AFRICA:
SOUTH AFRICAN RESERVE BANK: Repurchase rate
BANK OF ISRAEL: Short-term lending rate
CENTRAL BANK OF TURKEY: Overnight borrowing