FX & CFDs · Updated daily

Central Bank Rates

The interest rate each of the eight major central banks is currently setting, how they got there, and the rate gaps between currencies that sit behind carry trades.

Rates as of 29 Sep 2026 · page rebuilt 4 Oct 2026 06:40 UTC · source: Bank for International Settlements

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Current policy rates

"Hiking" or "Cutting" means the bank moved in that direction within the last five months. Anything older counts as on hold.

FedUSD

3.875%

US Federal Reserve

Hiking

Last move: +25bp on 17 Sep 2026
12-month change: −25bp
Moves in 12 months: 3

ECBEUR

2.50%

European Central Bank

Hiking

Last move: +25bp on 16 Sep 2026
12-month change: +50bp
Moves in 12 months: 2

BoEGBP

3.75%

Bank of England

On hold

Last move: −25bp on 18 Dec 2025
12-month change: −25bp
Moves in 12 months: 1

BoJJPY

1.25%

Bank of Japan

Hiking

Last move: +25bp on 24 Sep 2026
12-month change: +75bp
Moves in 12 months: 3

RBAAUD

4.35%

Reserve Bank of Australia

On hold

Last move: +25bp on 6 May 2026
12-month change: +75bp
Moves in 12 months: 3

BoCCAD

2.25%

Bank of Canada

On hold

Last move: −25bp on 30 Oct 2025
12-month change: −25bp
Moves in 12 months: 1

SNBCHF

0.00%

Swiss National Bank

On hold

Last move: −25bp on 20 Jun 2025
12-month change: 0bp
Moves in 12 months: 0

RBNZNZD

2.75%

Reserve Bank of New Zealand

Hiking

Last move: +25bp on 3 Sep 2026
12-month change: −25bp
Moves in 12 months: 4

The last two years

Each line steps when a bank changes its rate. Watch for lines moving apart: that's when the gaps between currencies widen.

Rate differentials

Read across from the base currency to the quote currency. A green number means the base currency pays more interest than the quote; red means it pays less. These gaps are what a carry trade tries to earn.

Base ↓ / Quote →	USD	EUR	GBP	JPY	AUD	CAD	CHF	NZD
USD	·	+1.38	+0.12	+2.62	−0.47	+1.62	+3.88	+1.12
EUR	−1.38	·	−1.25	+1.25	−1.85	+0.25	+2.50	−0.25
GBP	−0.12	+1.25	·	+2.50	−0.60	+1.50	+3.75	+1.00
JPY	−2.62	−1.25	−2.50	·	−3.10	−1.00	+1.25	−1.50
AUD	+0.47	+1.85	+0.60	+3.10	·	+2.10	+4.35	+1.60
CAD	−1.62	−0.25	−1.50	+1.00	−2.10	·	+2.25	−0.50
CHF	−3.88	−2.50	−3.75	−1.25	−4.35	−2.25	·	−2.75
NZD	−1.12	+0.25	−1.00	+1.50	−1.60	+0.50	+2.75	·

Widest gaps right now

The five major pairs with the biggest difference in policy rates, higher-yielding currency first.

AUD/CHF+4.35%RBA 4.35% vs SNB 0.00%
USD/CHF+3.88%Fed 3.875% vs SNB 0.00%
GBP/CHF+3.75%BoE 3.75% vs SNB 0.00%
AUD/JPY+3.10%RBA 4.35% vs BoJ 1.25%
NZD/CHF+2.75%RBNZ 2.75% vs SNB 0.00%

What this page can and can't tell you.

It shows what banks have done, not what they'll do next. Currencies mostly move on changes in expectations. By the time a hike is announced, it's usually been priced in for weeks.
A wide rate gap isn't a free lunch. Carry trades can earn the interest for months, then give it all back in days when markets get nervous and everyone unwinds at once.
Your broker decides what you actually earn or pay overnight. The swap on a CFD or spot FX position includes their mark-up, so check it rather than assuming it matches these numbers.

Risk warning: CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading them. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money. Satdish provides education, not financial advice.

Data: BIS central bank policy rates (WS_CBPOL), daily series. The US figure is the midpoint of the Fed's target range (which is why it can show three decimal places), and the euro area rate is the ECB rate as reported by the BIS. Updated every morning.