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Central bank rates compared
The Fed’s target range is 3.75–4.00% (since September 17, 2026), the ECB’s deposit facility rate 2.50% (since September 16, 2026). The table adds the Bank of England, the SNB and the Bank of Japan, with source and date.
| Central bank | Rate | Current | As of | Next meeting |
|---|---|---|---|---|
| Federal Reserve | Federal funds target range | 3.75–4.00% | since September 17, 2026 | October 28, 2026 |
| European Central Bank | Deposit facility rate | 2.50% | since September 16, 2026 | October 29, 2026 |
| Bank of England | Bank Rate | 3.75% | since December 18, 2025 | – |
| Swiss National Bank | SNB policy rate | 0.00% | monthly value September 2026 | – |
| Bank of Japan | Policy interest rate | 1.25% | monthly value September 2026 | – |
The last ten years
Federal ReserveEuropean Central BankBank of EnglandSwiss National BankBank of Japan
Monthly values from the BIS for all five, so the lines are comparable. For the Fed the middle of the target range.
How it is calculated
For the Fed, the ECB and the Bank of England the rates come directly from the central bank, with the day of the last change. For the SNB and the Bank of Japan DESK uses the BIS monthly value: both central banks require permission for commercial use of their own data. A change therefore appears there only with the next monthly value.
Frequently asked questions
What is a central bank rate?
The interest rate a central bank uses to steer monetary policy. It influences what banks pay for money – and so loan and savings rates.
Why does the Fed show a range?
The Fed does not set a single rate but a target range of 0.25 percentage points for the overnight rate between banks (the federal funds rate).
Which ECB rate is shown?
The deposit facility rate: the interest banks receive for overnight deposits at the ECB. Since 2019 it is the rate that steers the euro area money market.
Source
Fed: Board of Governors of the Federal Reserve System (public domain). ECB: European Central Bank, ECB Data Portal (source: ECB). Bank of England: Bank of England Database (IUDBEDR), contains public sector information licensed under the Open Government Licence v3.0. SNB and Bank of Japan, and the history: BIS, Central bank policy rates (source: BIS).
DESK is a research tool. This calculator shows arithmetic, not a recommendation: it is not investment, tax or financial advice, and past values say nothing about the future.
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DESK is a research tool and not investment advice. Page generated: 2026-10-15.