Central bank policy rates in advanced and emerging economies 2019-2024
As defined by the International Monetary Fund (IMF), the central bank policy rate is the rate used by central banks to implement or signal their monetary policy stance. Central banks raise or lower policy rates in order to maintain stability within a country's financial system. For example, when economic growth is low, central banks may lower rates in order to make borrowing cheaper, which in turn encourages spending on credit and investments. Between January 2022 and April 2024, almost all advanced and emerging economies increased their central bank policy rates.