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Countries by central bank policy rate, July 2026

Türkiye had the highest central bank policy rate of 36 countries in July 2026, at 37%. Switzerland had the lowest, at 0%. The median was 4.125%. Source: Bank for International Settlements.

Highest37Türkiye
Lowest0Switzerland
Median4.12536 countries

All countries, July 2026

CSVChart (SVG)

TürkiyeTürkiye: 37 %37BrazilBrazil: 14.25 %14.25RussiaRussia: 14 %14ColombiaColombia: 12 %12IcelandIceland: 7.75 %7.75South AfricaSouth Africa: 7 %7MexicoMexico: 6.5 %6.5RomaniaRomania: 6.5 %6.5HungaryHungary: 5.75 %5.75IndonesiaIndonesia: 5.75 %5.75SerbiaSerbia: 5.75 %5.75PhilippinesPhilippines: 4.75 %4.75ChileChile: 4.5 %4.5AustraliaAustralia: 4.35 %4.35North MacedoniaNorth Macedonia: 4.25 %4.25NorwayNorway: 4.25 %4.25PeruPeru: 4.25 %4.25Saudi ArabiaSaudi Arabia: 4.25 %4.25Hong KongHong Kong: 4 %4CzechiaCzechia: 3.75 %3.75PolandPoland: 3.75 %3.75United KingdomUnited Kingdom: 3.75 %3.75United StatesUnited States: 3.625 %3.625IsraelIsrael: 3.5 %3.5KuwaitKuwait: 3.5 %3.5ChinaChina: 3 %3MalaysiaMalaysia: 2.75 %2.75South KoreaSouth Korea: 2.75 %2.75New ZealandNew Zealand: 2.5 %2.5CanadaCanada: 2.25 %2.25MoroccoMorocco: 2.25 %2.25DenmarkDenmark: 1.85 %1.85SwedenSweden: 1.75 %1.75JapanJapan: 1 %1ThailandThailand: 1 %1SwitzerlandSwitzerland: 0 %0
%. Source: BIS. Retrieved 2026-10-09.

Full ranking

RankCountriesJuly 2026 (%)Change on July 2025
1Türkiye37-6 pts
2Brazil14.25-0.75 pts
3Russia14-4 pts
4Colombia12+2.75 pts
5Iceland7.75+0.25 pts
6South Africa7-0.25 pts
7Mexico6.5-1.5 pts
7Romania6.50 pts
9Hungary5.75-0.75 pts
9Indonesia5.75+0.5 pts
9Serbia5.750 pts
12Philippines4.75-0.5 pts
13Chile4.5-0.25 pts
14Australia4.35+0.5 pts
15North Macedonia4.25-1.1 pts
15Norway4.250 pts
15Peru4.25-0.25 pts
15Saudi Arabia4.25-0.75 pts
19Hong Kong4-0.75 pts
20Czechia3.75+0.25 pts
20Poland3.75-1.25 pts
20United Kingdom3.75-0.5 pts
23United States3.625-0.75 pts
24Israel3.5-1 pts
24Kuwait3.5-0.5 pts
26China30 pts
27Malaysia2.750 pts
27South Korea2.75+0.25 pts
29New Zealand2.5-0.75 pts
30Canada2.25-0.5 pts
30Morocco2.250 pts
32Denmark1.85+0.25 pts
33Sweden1.75-0.25 pts
34Japan1+0.5 pts
34Thailand1-0.75 pts
36Switzerland00 pts

Other periods

About this ranking

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.

Every value in the ranking comes from the same publisher and the same period, so the countries are compared on one definition. 12 countries with data in other periods have no value for July 2026 and are left out rather than filled from another source. Equal values share a rank.

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.TR?format=csv. Retrieved 2026-10-09.

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Questions

Which country has the highest central bank policy rate?

Türkiye, with 37% in July 2026, according to Bank for International Settlements.

Which country has the lowest central bank policy rate?

Switzerland, with 0% in July 2026.

Where does this ranking come from?

Every value comes from one source and one period, so the places are comparable: 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 2026-10-09. 12 countries have no value for July 2026 and are not ranked.

Central bank policy rate: other rankings

Countries: more rankings