Indicators : Interest rates

Description: The key policy rates are the key interest rates on which central banks decide to conduct monetary policy. These rates are: the ECB's main refinancing rate in the euro area, the Federal Reserve's federal funds rate in the United States and the Bank of Japan's Basic Discount and Basic Loan Rate in Japan. Interbank rates are the interest rates banks charge each other for short-term loans. The Euro Interbank Offered Rate (Euribor) is the rate at which a prime bank is willing to lend funds in euro to another prime bank. The 3-month Euribor is calculated daily for interbank deposits with a maturity of three months as the average of the daily offer rates of a representative panel of prime banks. Interbank rates for the Unites States and Japan are obtained from the British Bankers Association (BBA) and are also known as LIBOR fixings. Ten-year government bond rates are calculated by Thomson Reuters Datastream on the basis of "benchmark bonds". A benchmark bond is the most representative bond available for the given maturity band at each point in time.

Unit: percent, averages of daily data

Source: European Central Bank (euro area), Federal Reserve (United States), Bank of Japan (Japan), British Bankers Association (BBA), Thomson Reuters Datastream