Central Bank RatesUnited States: central bank policy rate
Last updated:
Policy rate3.875%Oct 6, 2026
For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.
SinceSep 17, 2026hike +25 bp
1 year ago4.125%
Last 2 years (daily values)
Policy rate since 2000 (month-end values)
All changes since 2000
| Date | From | To | Change |
|---|---|---|---|
| Sep 17, 2026 | 3.625% | 3.875% | hike +25 bp |
| Dec 11, 2025 | 3.875% | 3.625% | cut -25 bp |
| Oct 30, 2025 | 4.125% | 3.875% | cut -25 bp |
| Sep 18, 2025 | 4.375% | 4.125% | cut -25 bp |
| Dec 19, 2024 | 4.625% | 4.375% | cut -25 bp |
| Nov 8, 2024 | 4.875% | 4.625% | cut -25 bp |
| Sep 19, 2024 | 5.375% | 4.875% | cut -50 bp |
| Jul 27, 2023 | 5.125% | 5.375% | hike +25 bp |
| May 4, 2023 | 4.875% | 5.125% | hike +25 bp |
| Mar 23, 2023 | 4.625% | 4.875% | hike +25 bp |
| Feb 2, 2023 | 4.375% | 4.625% | hike +25 bp |
| Dec 15, 2022 | 3.875% | 4.375% | hike +50 bp |
| Nov 3, 2022 | 3.125% | 3.875% | hike +75 bp |
| Sep 22, 2022 | 2.375% | 3.125% | hike +75 bp |
| Jul 28, 2022 | 1.625% | 2.375% | hike +75 bp |
| Jun 16, 2022 | 0.875% | 1.625% | hike +75 bp |
| May 5, 2022 | 0.375% | 0.875% | hike +50 bp |
| Mar 17, 2022 | 0.125% | 0.375% | hike +25 bp |
| Mar 16, 2020 | 1.125% | 0.125% | cut -100 bp |
| Mar 4, 2020 | 1.625% | 1.125% | cut -50 bp |
| Oct 31, 2019 | 1.875% | 1.625% | cut -25 bp |
| Sep 19, 2019 | 2.125% | 1.875% | cut -25 bp |
| Aug 1, 2019 | 2.375% | 2.125% | cut -25 bp |
| Dec 20, 2018 | 2.125% | 2.375% | hike +25 bp |
| Sep 27, 2018 | 1.875% | 2.125% | hike +25 bp |
| Jun 14, 2018 | 1.625% | 1.875% | hike +25 bp |
| Mar 22, 2018 | 1.375% | 1.625% | hike +25 bp |
| Dec 14, 2017 | 1.125% | 1.375% | hike +25 bp |
| Jun 15, 2017 | 0.875% | 1.125% | hike +25 bp |
| Mar 16, 2017 | 0.625% | 0.875% | hike +25 bp |
| Dec 15, 2016 | 0.375% | 0.625% | hike +25 bp |
| Dec 17, 2015 | 0.125% | 0.375% | hike +25 bp |
| Dec 16, 2008 | 1.00% | 0.125% | cut -88 bp |
| Oct 29, 2008 | 1.50% | 1.00% | cut -50 bp |
| Oct 8, 2008 | 2.00% | 1.50% | cut -50 bp |
| Apr 30, 2008 | 2.25% | 2.00% | cut -25 bp |
| Mar 18, 2008 | 3.00% | 2.25% | cut -75 bp |
| Jan 30, 2008 | 3.50% | 3.00% | cut -50 bp |
| Jan 22, 2008 | 4.25% | 3.50% | cut -75 bp |
| Dec 11, 2007 | 4.50% | 4.25% | cut -25 bp |
| Oct 31, 2007 | 4.75% | 4.50% | cut -25 bp |
| Sep 18, 2007 | 5.25% | 4.75% | cut -50 bp |
| Jun 29, 2006 | 5.00% | 5.25% | hike +25 bp |
| May 10, 2006 | 4.75% | 5.00% | hike +25 bp |
| Mar 28, 2006 | 4.50% | 4.75% | hike +25 bp |
| Jan 31, 2006 | 4.25% | 4.50% | hike +25 bp |
| Dec 13, 2005 | 4.00% | 4.25% | hike +25 bp |
| Nov 1, 2005 | 3.75% | 4.00% | hike +25 bp |
| Sep 20, 2005 | 3.50% | 3.75% | hike +25 bp |
| Aug 9, 2005 | 3.25% | 3.50% | hike +25 bp |
| Jun 30, 2005 | 3.00% | 3.25% | hike +25 bp |
| May 3, 2005 | 2.75% | 3.00% | hike +25 bp |
| Mar 22, 2005 | 2.50% | 2.75% | hike +25 bp |
| Feb 2, 2005 | 2.25% | 2.50% | hike +25 bp |
| Dec 14, 2004 | 2.00% | 2.25% | hike +25 bp |
| Nov 10, 2004 | 1.75% | 2.00% | hike +25 bp |
| Sep 21, 2004 | 1.50% | 1.75% | hike +25 bp |
| Aug 10, 2004 | 1.25% | 1.50% | hike +25 bp |
| Jun 30, 2004 | 1.00% | 1.25% | hike +25 bp |
| Jun 25, 2003 | 1.25% | 1.00% | cut -25 bp |
| Nov 6, 2002 | 1.75% | 1.25% | cut -50 bp |
| Dec 11, 2001 | 2.00% | 1.75% | cut -25 bp |
| Nov 6, 2001 | 2.50% | 2.00% | cut -50 bp |
| Oct 2, 2001 | 3.00% | 2.50% | cut -50 bp |
| Sep 17, 2001 | 3.50% | 3.00% | cut -50 bp |
| Aug 21, 2001 | 3.75% | 3.50% | cut -25 bp |
| Jun 27, 2001 | 4.00% | 3.75% | cut -25 bp |
| May 15, 2001 | 4.50% | 4.00% | cut -50 bp |
| Apr 18, 2001 | 5.00% | 4.50% | cut -50 bp |
| Mar 20, 2001 | 5.50% | 5.00% | cut -50 bp |
| Jan 31, 2001 | 6.00% | 5.50% | cut -50 bp |
| Jan 3, 2001 | 6.50% | 6.00% | cut -50 bp |
| May 16, 2000 | 6.00% | 6.50% | hike +50 bp |
| Mar 21, 2000 | 5.75% | 6.00% | hike +25 bp |
| Feb 2, 2000 | 5.50% | 5.75% | hike +25 bp |
Which rate is shown (BIS notes, in English)
From 19 Dec 1985 onwards: mid-point of the Federal Reserve target rate; from 1 Jul 1954 to 18 Dec 1985: US Fed Funds effective rate.
Changes by year
Method
We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).
About this page
The policy rate of United States is 3.875% (BIS data as of Oct 6, 2026).