
Prime
Rate 
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International Prime and Benchmark Interest Rates 

Country  Rate (%)  
Eurozone (Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, The Netherlands, Portugal, Slovenia, Spain) 
0.00*  
China  4.35*  
Japan  1.475  
Canada  3.20  
Australia  1.50*  
United Kingdom  0.25*  
Sweden  0.5*  
New Zealand  1.75*  
* = Central bank benchmark rate.  
Prime
Rate 
Current Prime Rate  Prime
Rate History  Prime
Rate Forecast  SITEMAP Mortgage Refinance  Credit Cards  Economy  Life Insurance  LIBOR Student Credit Cards  Prime Rate FAQ  FREE Credit Reports  Mortgage Rates 



The nonU.S. benchmark interest rates on this page were updated on
September 8, 2017. 

Prime Rate News
from Around


Wednesday, September 6, 2017: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.75% to 1.00%. Therefore, the Prime Rate in Canada is now 3.20%. Wednesday, July 12, 2017: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.5% to 0.75%. Therefore, the Prime Rate in Canada is now 2.95%. Wednesday, July 12, 2017: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.5% to 0.75%. Therefore, the Prime Rate in Canada is now 2.95%. Thursday, November 10, 2016: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has lowered its Official Cash Rate (OCR) by 25 basis points (0.25 percentage point), from 2.00% to 1.75%, a new recordlow. Therefore, the benchmark rate in New Zealand is now 1.75%. Thursday, August 4, 2016: The Bank of England (BoE), the central bank for the United Kingdom, has cut its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.5% to 0.25%. Therefore, the benchmark rate in the UK is now 0.25%. This is a new recordlow for the BoE; England's central bank came into existence in 1694. Wednesday, August 3, 2016: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 1.75% to 1.5%. Therefore, the benchmark rate in Australia is now 1.50%. Wednesday, May 4, 2016: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 2.00% to 1.75%. Therefore, the benchmark rate in Australia is now 1.75%. Wednesday, March 16, 2016: The European Central Bank (ECB), has lowered its benchmark interest rate by 5 basis points (0.05 percentage point), from 0.05% to 0%. Therefore, the eurozone benchmark rate is now 0%. Wednesday, February 17, 2016: The Sveriges Riksbank, Sweden's central bank, has cut its repo rate by 15 basis points (0.15 percentage point), from 0.35% to 0.5%. Therefore, the benchmark rate in Sweden is now 0.5%, a new recordlow. Established in 1668, the Riksbank is the world's oldest bank. Saturday, October 24, 2015: The People's Bank of China (PBC), China's central bank, has lowered its benchmark loan interest rate by 25 basis points (0.25 percentage point), from 4.60% to 4.35%. Therefore, the benchmark rate in China is now 4.35%, a new recordlow. Wednesday, May 6, 2015: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 2.25% to 2.00%. Therefore, the benchmark rate in Australia is now 2.00%. Wednesday, February 4, 2015: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 2.50% to 2.25%. Therefore, the benchmark rate in Australia is now 2.25%. Wednesday, September 10, 2014: The European Central Bank (ECB), has lowered its benchmark interest rate by 10 basis points (0.10 percentage point), from 0.15% to 0.05%. Therefore, the eurozone benchmark rate is now 0.05% Wednesday, June 11, 2014: The European Central Bank (ECB), has lowered its benchmark interest rate by 10 basis points (0.10 percentage point), from 0.25% to 0.15%. Therefore, the eurozone benchmark rate is now 0.15% Wednesday, November 13, 2013: The European Central Bank (ECB), has lowered its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.5% to 0.25%. Therefore, the eurozone benchmark rate is now 0.25% Wednesday, August 7, 2013: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 2.75% to 2.50%. Therefore, the benchmark rate in Australia is now 2.50%. Wednesday, May 8, 2013: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 3.00% to 2.75%. Therefore, the benchmark rate in Australia is now 2.75%. Wednesday, May 8, 2013: The European Central Bank (ECB), has lowered its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.75% to 0.50%. Therefore, the eurozone benchmark rate is now 0.50% Wednesday, December 5, 2012: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 3.25% to 3.00%. Therefore, the benchmark rate in Australia is now 3.00%. Wednesday, October 3, 2012: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 3.50% to 3.25%. Therefore, the benchmark rate in Australia is now 3.25%. Wednesday, July 11, 2012: The European Central Bank (ECB), has lowered its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.00% to 0.75%. Therefore, the eurozone benchmark rate is now 0.75%. Wednesday, June 6, 2012: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 3.75% to 3.50%. Therefore, the benchmark rate in Australia is now 3.50%. Wednesday, May 2, 2012: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 50 basis points (0.50 percentage point), from 4.25% to 3.75%. Therefore, the benchmark rate in Australia is now 3.75%. Thursday, December 8, 2011: The European Central Bank (ECB), has cut its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.25% to 1.00%. Therefore, the eurozone benchmark rate is now 1.00%. Wednesday, December 7, 2011: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 4.50% to 4.25%. Therefore, the benchmark rate in Australia is now 4.25%. Thursday, November 3, 2011: The European Central Bank (ECB), under the new leadership of president Mario Draghi, has lowered its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.50% to 1.25%. Therefore, the eurozone benchmark rate is now 1.25%. Wednesday, November 2, 2011: The Reserve Bank of Australia (RBA), Australia's central bank, has lowered the target for its cash rate by 25 basis points (0.25 percentage point), from 4.75% to 4.50%. Therefore, the benchmark rate in Australia is now 4.50%. Thursday, July 7, 2011: The European Central Bank (ECB) has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.25% to 1.50%. Therefore, the eurozone benchmark rate is now 1.50%. Thursday, April 7, 2011: The European Central Bank (ECB) has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.00% to 1.25%. Therefore, the eurozone benchmark rate is now 1.25%. Wednesday, November 3, 2010: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 4.50% to 4.75%. Therefore, the benchmark rate in Australia is now 4.75%. Wednesday, September 8, 2010: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.75% to 1.00%. Therefore, the Prime Rate in Canada is now 3.00%. Tuesday, July 20, 2010: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.50% to 0.75%. Therefore, the Prime Rate in Canada is now 2.75%. Tuesday, June 1, 2010: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.25% to 0.50%. Therefore, the Prime Rate in Canada is now 2.50%. Wednesday, May 5, 2010: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 4.25% to 4.50%. Therefore, the benchmark rate in Australia is now 4.50%. Wednesday, April 7, 2010: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 4.00% to 4.25%. Therefore, the benchmark rate in Australia is now 4.25%. Wednesday, March 2, 2010: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 3.75% to 4.00%. Therefore, the benchmark rate in Australia is now 4.00%. Wednesday, December 2, 2009: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 3.50% to 3.75%. Therefore, the benchmark rate in Australia is now 3.75%. Wednesday, November 4, 2009: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 3.25% to 3.50%. Therefore, the benchmark rate in Australia is now 3.50%. Tuesday, October 6, 2009: The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 25 basis points (0.25 percentage point), from 3.00% to 3.25%. Therefore, the benchmark rate in Australia is now 3.25%. Thursday, May 7, 2009: The European Central Bank (ECB) has cut its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.25% to 1.00%. Therefore, the eurozone benchmark rate is now 1.00%, a brand new record low. Tuesday, April 21, 2009: The Bank of Canada, Canada's central bank, has cut its benchmark target overnight interest rate from 0.5% to 0.25%. Therefore, the Prime Rate in Canada is now 2.25%, a new record low. Canada's benchmark rate can't go any lower than 0.25%. Wednesday, April 8, 2009: The Reserve Bank of Australia (RBA), Australia's central bank, has cut the target for its cash rate by 25 basis points (0.25 percentage point), from 3.25% to 3.00%. Therefore, the benchmark rate in Australia is now 3.00%. Thursday, April 2, 2009: The European Central Bank (ECB) has cut its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.50% to 1.25%. Therefore, the eurozone benchmark rate is now 1.25%, which is the lowest it's been since the ECB was founded in 1998. Thursday, March 5, 2009: The European Central Bank (ECB) has cut its benchmark interest rate from 2.0% to 1.50%. Therefore, the eurozone benchmark rate is now 1.50%, which is the lowest it's been since the ECB was founded in 1998. Thursday, March 5, 2009: The Bank of England (BoE), the central bank for the UK, has cut its benchmark interest rate by 50 basis points (0.50 percentage point), from 1.0% to 0.50%. Therefore, the benchmark rate in the UK is now 0.50%. This is a record low for the BoE, which was created in 1694. Tuesday, March 3, 2009: The Bank of Canada, Canada's central bank, has cut its benchmark overnight interest rate from 1.0% to 0.5%. Therefore, the Prime Rate in Canada is now 2.50%, a new record low. Thursday, February 5, 2009: The Bank of England (BoE), which serves as the central bank for the United Kingdom, cut its benchmark interest rate by 50 basis points (0.50 percentage point) to 1.00%. Therefore, the benchmark rate in the UK is now 1.00%. Wednesday, February 3, 2009: The Reserve Bank of Australia (RBA), Australia's central bank, has cut the target for its cash rate by 100 basis points (1.00 percentage point), from 4.25% to 3.25%. Therefore, the benchmark rate in Australia is now 3.25%. Tuesday, January 20, 2009: The Bank of Canada, which serves as Canada's central bank, cut its benchmark interest rate to 1.00%. Therefore, the Prime Rate in Canada is now 3.00%. Thursday, January 15, 2009: The European Central Bank (ECB) has cut its benchmark interest rate to 2.00%. Therefore, the eurozone benchmark rate is now 2.00%. Thursday, January 8, 2009: The Bank of England (BoE), which serves as the central bank for the United Kingdom, cut its benchmark interest rate by 50 basis points (0.50 percentage point) to 1.50%. Therefore, the benchmark rate in the UK is now 1.50%. Tuesday, December 16, 2008: The Federal Open Market Committee (FOMC) of the Federal Reserve has cut its benchmark interest rate, the target fed funds rate, to a range of 0%  0.25%. Therefore, the Fed Prime Rate (WSJ Prime Rate) is now 3.25%. The Federal Reserve's network of 12 regional banks and the system's headquarters at the Marriner S. Eccles Federal Reserve Board Building on Constitution Avenue in Washington, D.C., act together as the central bank of the United States. Wednesday, December 2, 2008: The Reserve Bank of Australia (RBA), Australia's central bank, has cut the target for its cash rate by 100 basis points (1.00 percentage point), from 5.25% to 4.25%. Therefore, the benchmark rate in Australia is now 4.25%. 

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