TriumphFX Interest Rate Summaries – Forex Fundamental Analysis


Australia (AUD)

Current rate 0.25%
Previous rate 0.25%
Lowest rate 0.25%

The Reserve Bank of Australia (RBA) have kept rates at 0.25% (a record low). Policymakers are now focused on economic recovery created by the COVID-19 crisis. The board believe they recovery will be both uneven and bumpy. Low rates and economic stimulus is likely to continue until unemployment levels and other economic indicators are more satisfactory.

Canada (CAD)

Current rate 0.25%
Previous rate 0.25%
Lowest rate 0.25%

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. Policymakers have announced that there are signs of some recovery after the economic crisis caused by COVID-19 but the BOC will continue their quantitative easing program. The BOC are expecting to see economic growth from 2021 onward.

Eurozone (EUR)

Current rate 0.00%
Previous rate 0.00%
Lowest rate 0.00%

The European Central Bank (ECB) has recently become more optimistic about the Eurozone’s economic future. Strong economic stimulus and low interest rates will need to remain to support growth and inflation though. The interest rate continues to be at the record low of 0.00%.

Japan (JPY)

Current rate -0.10%
Previous rate -0.10%
Lowest rate -0.10%

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is performing well under the current COVID-19 economic crisis.

Switzerland (CHF)

Current rate -0.75%
Previous rate -0.75%
Lowest rate -0.75%

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The Swiss economy continues to be stagnant. The economy was showing signs of positive momentum but COVID-19 is causing the economic to contraction. The Swiss Franc continues to be highly valued as a safe-haven currency. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until at least 2021.

United Kingdom (GBP)

Current rate 0.10%
Previous rate 0.10%
Lowest rate 0.10%

The Bank of England (BOE) has set the interest rate at a record low of 0.10%. Policymakers believe that the UK will take longer to recover from the COVID-19 economic crisis than first initially thought. They have warned about cutting rates below 0.00%, meaning that a negative rate is unlikely in the near future.

United States (USD)

Current rate 0.25%
Previous rate 0.25%
Lowest rate 0.25%

The Federal Reserve have suggested that rates may remain low for the short-term future. Rates currently remain at the low of 0.25%. Inflation is around target and the US job market continues to be robust.

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*data correct as of 31 August 2020
**data post-1990 only