Data / Central bank policy rate / North Macedonia

Central bank policy rate in North Macedonia

Central bank policy rate in North Macedonia was 4.25% in September 2026, according to Bank for International Settlements. That is down 1.1 pts from September 2025. That is the 15th highest of 36 countries in July 2026.

September 20264.25%
Change on September 2025-1.1 pts
Rank15th of 36Countries ranked
Series high20June 2001
Series low1.25March 2021

Central bank policy rate in North Macedonia, January 2000 to September 2026

CSVChart (SVG)

051015202000-012003-112007-092011-072015-052019-032023-012026-092000-01: 9.5 %2000-02: 9.5 %2000-03: 9.5 %2000-04: 9.45 %2000-05: 9.73 %2000-06: 8.59 %2000-07: 9.45 %2000-08: 8.59 %2000-09: 8.45 %2000-10: 7.88 %2000-11: 7.03 %2000-12: 6.89 %2001-01: 7.45 %2001-02: 7.6 %2001-03: 8.1 %2001-04: 10 %2001-05: 14.27 %2001-06: 20 %2001-07: 20 %2001-08: 20 %2001-09: 20 %2001-10: 17 %2001-11: 15 %2001-12: 15 %2002-01: 15 %2002-02: 13 %2002-03: 13 %2002-04: 13 %2002-05: 13 %2002-06: 13 %2002-07: 11.2 %2002-08: 9.51 %2002-09: 10.19 %2002-10: 12.01 %2002-11: 14.01 %2002-12: 15.22 %2003-01: 15.05 %2003-02: 11.42 %2003-03: 7.93 %2003-04: 7 %2003-05: 7 %2003-06: 7 %2003-07: 7 %2003-08: 7 %2003-09: 7 %2003-10: 6.38 %2003-11: 5.79 %2003-12: 6.65 %2004-01: 6.74 %2004-02: 8 %2004-03: 8 %2004-04: 8 %2004-05: 8 %2004-06: 8 %2004-07: 8 %2004-08: 8.5 %2004-09: 9 %2004-10: 9 %2004-11: 10 %2004-12: 10 %2005-01: 10 %2005-02: 10 %2005-03: 10 %2005-04: 10 %2005-05: 10 %2005-06: 10 %2005-07: 10 %2005-08: 10 %2005-09: 10 %2005-10: 9.85 %2005-11: 8.77 %2005-12: 8.37 %2006-01: 7.04 %2006-02: 7.18 %2006-03: 6.44 %2006-04: 5.92 %2006-05: 5.7 %2006-06: 5.5 %2006-07: 5.56 %2006-08: 5.5 %2006-09: 5.34 %2006-10: 5.72 %2006-11: 5.81 %2006-12: 5.81 %2007-01: 5.58 %2007-02: 5.36 %2007-03: 5.25 %2007-04: 5.05 %2007-05: 5 %2007-06: 4.98 %2007-07: 5.17 %2007-08: 5.11 %2007-09: 4.68 %2007-10: 4.78 %2007-11: 4.74 %2007-12: 4.81 %2008-01: 4.99 %2008-02: 5.25 %2008-03: 6 %2008-04: 6 %2008-05: 7 %2008-06: 7 %2008-07: 7 %2008-08: 7 %2008-09: 7 %2008-10: 7 %2008-11: 7 %2008-12: 7 %2009-01: 7 %2009-02: 7 %2009-03: 7 %2009-04: 9 %2009-05: 9 %2009-06: 9 %2009-07: 9 %2009-08: 9 %2009-09: 9 %2009-10: 9 %2009-11: 9 %2009-12: 8.5 %2010-01: 8 %2010-02: 7.5 %2010-03: 6.5 %2010-04: 6.5 %2010-05: 6 %2010-06: 5 %2010-07: 5 %2010-08: 4.5 %2010-09: 4.5 %2010-10: 4.5 %2010-11: 4.5 %2010-12: 4 %2011-01: 4 %2011-02: 4 %2011-03: 4 %2011-04: 4 %2011-05: 4 %2011-06: 4 %2011-07: 4 %2011-08: 4 %2011-09: 4 %2011-10: 4 %2011-11: 4 %2011-12: 4 %2012-01: 4 %2012-02: 4 %2012-03: 4 %2012-04: 3.94 %2012-05: 3.71 %2012-06: 3.73 %2012-07: 3.73 %2012-08: 3.73 %2012-09: 3.73 %2012-10: 3.73 %2012-11: 3.73 %2012-12: 3.73 %2013-01: 3.49 %2013-02: 3.48 %2013-03: 3.42 %2013-04: 3.38 %2013-05: 3.37 %2013-06: 3.21 %2013-07: 3.25 %2013-08: 3.25 %2013-09: 3.25 %2013-10: 3.25 %2013-11: 3.25 %2013-12: 3.25 %2014-01: 3.25 %2014-02: 3.25 %2014-03: 3.25 %2014-04: 3.25 %2014-05: 3.25 %2014-06: 3.25 %2014-07: 3.25 %2014-08: 3.25 %2014-09: 3.25 %2014-10: 3.25 %2014-11: 3.25 %2014-12: 3.25 %2015-01: 3.25 %2015-02: 3.25 %2015-03: 3.25 %2015-04: 3.25 %2015-05: 3.25 %2015-06: 3.25 %2015-07: 3.25 %2015-08: 3.25 %2015-09: 3.25 %2015-10: 3.25 %2015-11: 3.25 %2015-12: 3.25 %2016-01: 3.25 %2016-02: 3.25 %2016-03: 3.25 %2016-04: 3.25 %2016-05: 4 %2016-06: 4 %2016-07: 4 %2016-08: 4 %2016-09: 4 %2016-10: 4 %2016-11: 4 %2016-12: 3.75 %2017-01: 3.5 %2017-02: 3.25 %2017-03: 3.25 %2017-04: 3.25 %2017-05: 3.25 %2017-06: 3.25 %2017-07: 3.25 %2017-08: 3.25 %2017-09: 3.25 %2017-10: 3.25 %2017-11: 3.25 %2017-12: 3.25 %2018-01: 3.25 %2018-02: 3.25 %2018-03: 3 %2018-04: 3 %2018-05: 3 %2018-06: 3 %2018-07: 3 %2018-08: 2.75 %2018-09: 2.75 %2018-10: 2.75 %2018-11: 2.75 %2018-12: 2.5 %2019-01: 2.5 %2019-02: 2.5 %2019-03: 2.25 %2019-04: 2.25 %2019-05: 2.25 %2019-06: 2.25 %2019-07: 2.25 %2019-08: 2.25 %2019-09: 2.25 %2019-10: 2.25 %2019-11: 2.25 %2019-12: 2.25 %2020-01: 2 %2020-02: 2 %2020-03: 1.75 %2020-04: 1.75 %2020-05: 1.5 %2020-06: 1.5 %2020-07: 1.5 %2020-08: 1.5 %2020-09: 1.5 %2020-10: 1.5 %2020-11: 1.5 %2020-12: 1.5 %2021-01: 1.5 %2021-02: 1.5 %2021-03: 1.25 %2021-04: 1.25 %2021-05: 1.25 %2021-06: 1.25 %2021-07: 1.25 %2021-08: 1.25 %2021-09: 1.25 %2021-10: 1.25 %2021-11: 1.25 %2021-12: 1.25 %2022-01: 1.25 %2022-02: 1.25 %2022-03: 1.25 %2022-04: 1.5 %2022-05: 1.75 %2022-06: 2 %2022-07: 2.5 %2022-08: 2.5 %2022-09: 3 %2022-10: 3.5 %2022-11: 4.25 %2022-12: 4.75 %2023-01: 4.75 %2023-02: 5.25 %2023-03: 5.5 %2023-04: 5.5 %2023-05: 5.75 %2023-06: 6 %2023-07: 6 %2023-08: 6.15 %2023-09: 6.3 %2023-10: 6.3 %2023-11: 6.3 %2023-12: 6.3 %2024-01: 6.3 %2024-02: 6.3 %2024-03: 6.3 %2024-04: 6.3 %2024-05: 6.3 %2024-06: 6.3 %2024-07: 6.3 %2024-08: 6.3 %2024-09: 6.05 %2024-10: 5.8 %2024-11: 5.8 %2024-12: 5.55 %2025-01: 5.55 %2025-02: 5.35 %2025-03: 5.35 %2025-04: 5.35 %2025-05: 5.35 %2025-06: 5.35 %2025-07: 5.35 %2025-08: 5.35 %2025-09: 5.35 %2025-10: 5.35 %2025-11: 5.35 %2025-12: 4 %2026-01: 4 %2026-02: 4 %2026-03: 4 %2026-04: 4 %2026-05: 4 %2026-06: 4.25 %2026-07: 4.25 %2026-08: 4.25 %2026-09: 4.25 %
%. Source: BIS. Retrieved 2026-10-09.
All 321 values
Period%
2026-094.25
2026-084.25
2026-074.25
2026-064.25
2026-054
2026-044
2026-034
2026-024
2026-014
2025-124
2025-115.35
2025-105.35
2025-095.35
2025-085.35
2025-075.35
2025-065.35
2025-055.35
2025-045.35
2025-035.35
2025-025.35
2025-015.55
2024-125.55
2024-115.8
2024-105.8
2024-096.05
2024-086.3
2024-076.3
2024-066.3
2024-056.3
2024-046.3
2024-036.3
2024-026.3
2024-016.3
2023-126.3
2023-116.3
2023-106.3
2023-096.3
2023-086.15
2023-076
2023-066
2023-055.75
2023-045.5
2023-035.5
2023-025.25
2023-014.75
2022-124.75
2022-114.25
2022-103.5
2022-093
2022-082.5
2022-072.5
2022-062
2022-051.75
2022-041.5
2022-031.25
2022-021.25
2022-011.25
2021-121.25
2021-111.25
2021-101.25
2021-091.25
2021-081.25
2021-071.25
2021-061.25
2021-051.25
2021-041.25
2021-031.25
2021-021.5
2021-011.5
2020-121.5
2020-111.5
2020-101.5
2020-091.5
2020-081.5
2020-071.5
2020-061.5
2020-051.5
2020-041.75
2020-031.75
2020-022
2020-012
2019-122.25
2019-112.25
2019-102.25
2019-092.25
2019-082.25
2019-072.25
2019-062.25
2019-052.25
2019-042.25
2019-032.25
2019-022.5
2019-012.5
2018-122.5
2018-112.75
2018-102.75
2018-092.75
2018-082.75
2018-073
2018-063
2018-053
2018-043
2018-033
2018-023.25
2018-013.25
2017-123.25
2017-113.25
2017-103.25
2017-093.25
2017-083.25
2017-073.25
2017-063.25
2017-053.25
2017-043.25
2017-033.25
2017-023.25
2017-013.5
2016-123.75
2016-114
2016-104
2016-094
2016-084
2016-074
2016-064
2016-054
2016-043.25
2016-033.25
2016-023.25
2016-013.25
2015-123.25
2015-113.25
2015-103.25
2015-093.25
2015-083.25
2015-073.25
2015-063.25
2015-053.25
2015-043.25
2015-033.25
2015-023.25
2015-013.25
2014-123.25
2014-113.25
2014-103.25
2014-093.25
2014-083.25
2014-073.25
2014-063.25
2014-053.25
2014-043.25
2014-033.25
2014-023.25
2014-013.25
2013-123.25
2013-113.25
2013-103.25
2013-093.25
2013-083.25
2013-073.25
2013-063.21
2013-053.37
2013-043.38
2013-033.42
2013-023.48
2013-013.49
2012-123.73
2012-113.73
2012-103.73
2012-093.73
2012-083.73
2012-073.73
2012-063.73
2012-053.71
2012-043.94
2012-034
2012-024
2012-014
2011-124
2011-114
2011-104
2011-094
2011-084
2011-074
2011-064
2011-054
2011-044
2011-034
2011-024
2011-014
2010-124
2010-114.5
2010-104.5
2010-094.5
2010-084.5
2010-075
2010-065
2010-056
2010-046.5
2010-036.5
2010-027.5
2010-018
2009-128.5
2009-119
2009-109
2009-099
2009-089
2009-079
2009-069
2009-059
2009-049
2009-037
2009-027
2009-017
2008-127
2008-117
2008-107
2008-097
2008-087
2008-077
2008-067
2008-057
2008-046
2008-036
2008-025.25
2008-014.99
2007-124.81
2007-114.74
2007-104.78
2007-094.68
2007-085.11
2007-075.17
2007-064.98
2007-055
2007-045.05
2007-035.25
2007-025.36
2007-015.58
2006-125.81
2006-115.81
2006-105.72
2006-095.34
2006-085.5
2006-075.56
2006-065.5
2006-055.7
2006-045.92
2006-036.44
2006-027.18
2006-017.04
2005-128.37
2005-118.77
2005-109.85
2005-0910
2005-0810
2005-0710
2005-0610
2005-0510
2005-0410
2005-0310
2005-0210
2005-0110
2004-1210
2004-1110
2004-109
2004-099
2004-088.5
2004-078
2004-068
2004-058
2004-048
2004-038
2004-028
2004-016.74
2003-126.65
2003-115.79
2003-106.38
2003-097
2003-087
2003-077
2003-067
2003-057
2003-047
2003-037.93
2003-0211.42
2003-0115.05
2002-1215.22
2002-1114.01
2002-1012.01
2002-0910.19
2002-089.51
2002-0711.2
2002-0613
2002-0513
2002-0413
2002-0313
2002-0213
2002-0115
2001-1215
2001-1115
2001-1017
2001-0920
2001-0820
2001-0720
2001-0620
2001-0514.27
2001-0410
2001-038.1
2001-027.6
2001-017.45
2000-126.89
2000-117.03
2000-107.88
2000-098.45
2000-088.59
2000-079.45
2000-068.59
2000-059.73
2000-049.45
2000-039.5
2000-029.5
2000-019.5

Rankings

Definition

The rate a central bank sets to steer monetary policy, or its operational target, in percent per year. United States: effective federal funds rate, monthly average of daily rates (Federal Reserve H.15). Euro area: ECB deposit facility rate in force on the last day of the month. Other countries: the policy rate in force at the end of the month as reported by the national central bank and compiled by the BIS.

Timing differs by source: the US figure is a monthly average of the market rate that the Federal Reserve targets (the target range is set by the FOMC; the BIS copy uses its midpoint), while ECB and BIS figures are end-of-month levels. The euro area series is the deposit facility rate for its whole history; the ECB has steered with it since September 2024, and before that the BIS series and most press coverage used the main refinancing rate (see ecb_main_refinancing_rate). Euro area members have no national policy rate since 1999, so their BIS series end in 1998. Each BIS series names its central bank and the instrument used in each period.

How to cite

Bank for International Settlements (BIS), from national central bank data. Central bank policy rates (WS_CBPOL), monthly, end of period, as reported by the national central bank named in the series (SOURCE_REF). https://stats.bis.org/api/v2/data/dataflow/BIS/WS_CBPOL/1.0/M.MK?format=csv. Retrieved 2026-10-09.

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Questions

What is the central bank policy rate in North Macedonia?

Central bank policy rate in North Macedonia was 4.25% in September 2026, according to Bank for International Settlements. That is down 1.1 pts from September 2025. That is the 15th highest of 36 countries in July 2026.

Where does this figure come from?

Bank for International Settlements. Central bank policy rates (WS_CBPOL), monthly, end of period, as reported by the national central bank named in the series (SOURCE_REF). Retrieved by Invokely on 2026-10-09.

What was the highest central bank policy rate in North Macedonia?

20% in June 2001, the highest value since January 2000 in this series.

More statistics for North Macedonia

All statistics for North Macedonia