
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) 
3.75*  
China  3.65*  
Japan  1.48  
Canada  6.70  
Australia  3.85*  
United Kingdom  4.50*  
Sweden  3.50*  
Switzerland  1.50*  
Norway  3.25*  
New Zealand  5.25*  
Zimbabwe  200*  
South Korea  3.00*  
Russia  7.5*  
Turkey  8.50*  
Denmark  3.00*  
Israel  4.5*  
Mexico  11.25*  
India  6.50*  
Argentina  91.0*  
* = 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 international benchmark interest rates on this page were updated
on May 22, 2023. 

Prime Rate News
from Around


Thursday, May 11, 2023: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 4.25% to 4.50%. Therefore, the benchmark rate in the UK is now 4.50%. Thursday, May 4, 2023: The European Central Bank (ECB), has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 3.50% to 3.75%. The new rate goes into effect on May 10, 2023. Tuesday, May 2, 2023 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 3.60% to 3.85%. Therefore, the benchmark rate in Australia is now 3.85%. Thursday, March 23, 2023: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 4.00% to 4.25%. Therefore, the benchmark rate in the UK is now 4.25%. Thursday, March 16, 2023: The European Central Bank (ECB), has raised its benchmark interest rate by 50 basis points (0.50 percentage point), from 3.00% to 3.50%. The new rate goes into effect on March 22, 2023. Wednesday, April 26, 2023: The Sveriges Riksbank, Sweden's central bank, has raised its policy rate by 50 basis points (0.50 percentage point), from 3.00% to 3.50%. Therefore, effective on May 3, 2023, the benchmark rate in Sweden is 3.50%. Established in 1668, the Riksbank is the world's oldest bank. Monday, April 3, 2023: The Bank of Israel, Israel's central bank, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 4.25% to 4.50%. Therefore, the benchmark rate in Israel is now 4.50%. Thursday, November 3, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 75 basis points (0.75 percentage point), from 2.25% to 3.00%. Therefore, the benchmark rate in the UK is now 3.00%. Thursday, October 27, 2022: The European Central Bank (ECB), has raised its benchmark interest rate by 75 basis points (0.75 percentage point), from 1.25% to 2.00%. The new rate goes into effect on November 2, 2022. Wednesday, October 26, 2022: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 3.25% to 3.75%. Therefore, the Prime Rate (or Prime Business) in Canada is now 5.95%. Tuesday, October 4, 2022 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 2.35% to 2.60%. Therefore, the benchmark rate in Australia is now 2.60%. Thursday, September 22, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 50 basis points (0.50 percentage point), from 1.75% to 2.25%. Therefore, the benchmark rate in the UK is now 2.25%. Tuesday, September 20, 2022: The Sveriges Riksbank, Sweden's central bank, has raised its policy rate by 50 basis points (0.50 percentage point), from 0.75% to 1.75%. Therefore, the benchmark rate in Sweden is now 1.75%. Established in 1668, the Riksbank is the world's oldest bank. Thursday, September 8, 2022: The European Central Bank (ECB), has raised its benchmark interest rate by 75 basis points (0.75 percentage point), from 0.50% to 1.25%. The new rate goes into effect on September 14, 2022. Wednesday, September 7, 2022: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 2.50% to 3.25%. Therefore, the Prime Rate (or Prime Business) in Canada is now 5.45%. Tuesday, September 6, 2022 The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 50 basis points (0.50 percentage point), from 1.85% to 2.35%. Therefore, the benchmark rate in Australia is now 2.35%. Wednesday, August 17, 2022: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has raised its Official Cash Rate (OCR) by 50 basis points (0.50 percentage point), from 2.50% to 3.00%. STherefore, the benchmark rate in New Zealand is now 3.00%. Thursday, August 4, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 50 basis points (0.50 percentage point), from 1.25% to 1.75%. Therefore, the benchmark rate in the UK is now 1.75%. Tuesday, August 2, 2022 The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 50 basis points (0.50 percentage point), from 1.35% to 1.85%. Therefore, the benchmark rate in Australia is now 1.85%. Thursday, July 21, 2022: The European Central Bank (ECB), has raised its benchmark interest rate by 50 basis points (0.50 percentage point), from 0% to 0.50%. The new rate goes into effect on July 27, 2022. Wednesday, July 13, 2022: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 1.50% to 2.50%. Therefore, the Prime Rate (or Prime Business) in Canada is now 4.70%. Tuesday, July 5, 2022 The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 50 basis points (0.50 percentage point), from 0.85% to 1.35%. Therefore, the benchmark rate in Australia is now 1.35%. Thursday, June 30, 2022: The Sveriges Riksbank, Sweden's central bank, has raised its policy rate by 50 basis points (0.50 percentage point), from 0.25% to 0.75%. Therefore, the benchmark rate in Sweden is now 0.75%. Established in 1668, the Riksbank is the world's oldest bank. Friday, June 24, 2022: The Reserve Bank of Zimbabwe (RBZ), Zimbabwe's central bank, has raised its Bank Policy Rate from 80% to 200%. Therefore, the benchmark rate in Zimbabwe is now 200%. Wednesday, June 17, 2022: The Bank of Japan, Japan's central bank, has voted to maintain its ShortTerm Policy Interest Rate at 0.1%. Therefore, the Prime Rate in Japan remains at 1.48%. Thursday, June 16, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 1.00% to 1.25%. Therefore, the benchmark rate in the UK is now 1.25%. Tuesday, June 7, 2022 The Reserve Bank of Australia (RBA), Australia's central bank, has raised the target for its cash rate by 50 basis points (0.50 percentage point), from 0.35% to 0.85%. Therefore, the benchmark rate in Australia is now 0.85%. Wednesday, June 1, 2022: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 1.00% to 1.50%. Therefore, the Prime Rate (or Prime Business) in Canada is now 3.70%. Thursday, May 26, 2022: The Bank of Korea, Korea's central bank, has raised its Base Rate by 25 basis points (0.25 percentage point), from 1.50% to 1.75%. Therefore, the benchmark rate in Korea is now 1.75%. Wednesday, May 25, 2022: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has raised its Official Cash Rate (OCR) by 50 basis points (0.50 percentage point), from 1.50% to 2.00%. Therefore, the benchmark rate in New Zealand is now 2.00%. Thursday, May 5, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.75% to 1.00%. Therefore, the benchmark rate in the UK is now 1.00%. Tuesday, May 3, 2022 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 0.10% to 0.35%. Therefore, the benchmark rate in Australia is now 0.35%. Wednesday, April 13, 2022: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.50% to 1.00%. Therefore, the Prime Rate (or Prime Business) in Canada is now 3.20%. Wednesday, April 13, 2022: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has raised its Official Cash Rate (OCR) by 50 basis points (0.50 percentage point), from 1.00% to 1.50%. Therefore, the benchmark rate in New Zealand is now 1.50%. Monday, March 21, 2022: The People's Bank of China (PBOC), the central bank for China, has left its OneYear Loan Prime Rate (LPR) unchanged at 3.70%. Therefore, China's 1Year LPR is now 3.70%. The AboveFiveYear LPR remains at 4.60%. Thursday, March 17, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.50% to 0.75%. Therefore, the benchmark rate in the UK is now 0.75%. Wednesday, March 2, 2022: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 0.25% to 0.50%. The Prime Rate (or Prime Business) in Canada is now 2.70%. Thursday, February 3, 2022: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.25% to 0.50%. Therefore, the benchmark rate in the UK is now 0.50%. Monday, December 20, 2021: The People's Bank of China (PBOC), the central bank for China, has cut its OneYear Loan Prime Rate (LPR) by 5 basis points (0.05 percentage point), from 3.85% to 3.80%. Therefore, China's 1Year LPR is now 3.80%. The AboveFiveYear LPR remains at 4.65%. Wednesday, December 16, 2021: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 15 basis points (0.15 percentage point), from 0.1% to 0.25%. Therefore, the benchmark rate in the UK is now 0.25%. Wednesday, November 24, 2021: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has raised its Official Cash Rate (OCR) by 25 basis points (0.25 percentage point), from 0.50% to 0.75%. Therefore, the benchmark rate in New Zealand is now 0.75%. Wednesday, October 6, 2021: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has raised its Official Cash Rate (OCR) by 25 basis points (0.25 percentage point), from 0.25% to 0.50%. Therefore, the benchmark rate in New Zealand is now 0.50%. Thursday, September 9, 2021: The European Central Bank (ECB), has kept its benchmark interest rate at 0%. Therefore, the eurozone benchmark rate remains at 0%. Friday, March 27, 2020: The Bank of Canada, Canada's central bank, has lowered its benchmark target overnight interest rate from 0.75% to 0.25%. The Prime Rate (or Prime Business) in Canada is now 2.45% (effective Monday, March 30, 2020.) Tuesday, March 19, 2020 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 0.50% to 0.25%. Therefore, the benchmark rate in Australia is now 0.25%. Friday, March 13, 2020: The Bank of Canada, Canada's central bank, has lowered its benchmark target overnight interest rate from 1.25% to 0.75%. The Prime Rate (or Prime Business) in Canada is now 2.95% (effective Monday, March 16, 2020.) Wednesday, March 4, 2020: The Bank of Canada, Canada's central bank, has lowered its benchmark target overnight interest rate from 1.75% to 1.25%. The Prime Rate (or Prime Business) in Canada is now 3.45%. Tuesday, March 3, 2020: 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 0.75% to 0.50%. Therefore, the benchmark rate in Australia is now 0.50%. Thursday, December 19, 2019: The Sveriges Riksbank, Sweden's central bank, has raised its repo rate by 25 basis points (0.25 percentage point), from 0.25% to 0.00%. Therefore, the benchmark rate in Sweden is now 0.00%, effective January 8, 2020. Established in 1668, the Riksbank is the world's oldest bank. Wednesday, August 7, 2019: The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, has lowered its Official Cash Rate (OCR) by 50 basis points (0.50 percentage point), from 1.50% to 1.00%. Therefore, the benchmark rate in New Zealand is now 1.00%. Wednesday, July 30, 2019: The Bank of Japan, Japan's central bank, has voted to maintain its ShortTerm Policy Interest Rate at 0.1%. Therefore, the benchmark rate in Japan remains at 0.1%. Tuesday, June 4, 2019: 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 1.50% to 1.25%. Therefore, the benchmark rate in Australia is now 1.25%. Wednesday, May 8, 2019: 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 1.75% to 1.50%. Therefore, the benchmark rate in New Zealand is now 1.50%. Thursday, December 20, 2018: The Sveriges Riksbank, Sweden's central bank, has raised its repo rate by 25 basis points (0.25 percentage point), from 0.50% to 0.25%. Therefore, the benchmark rate in Sweden is now 0.25%, effective January 9, 2019. Established in 1668, the Riksbank is the world's oldest bank. Wednesday, October 24, 2018: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 1.50% to 1.75%. The Prime Rate (or Prime Business) in Canada is now 3.95%. Wednesday, August 1, 2018: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.50% to 0.75%. Therefore, the benchmark rate in the UK is now 0.75%. Wednesday, July 11, 2018: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 1.25% to 1.50%. The Prime Rate (or Prime Business) in Canada is now 3.70%. Wednesday, January 17, 2018: The Bank of Canada, Canada's central bank, has raised its benchmark target overnight interest rate from 1.00% to 1.25%. The Prime Rate (or Prime Business) in Canada is now 3.45%. Thursday, November 2, 2017: The Bank of England (BoE), the central bank for the United Kingdom, has raised its benchmark interest rate by 25 basis points (0.25 percentage point), from 0.25% to 0.50%. Therefore, the benchmark rate in the UK is now 0.50%. 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%. 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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