Official policy rates
The current G10 policy rates that move forex: Federal Reserve, ECB, Bank of England, Bank of Japan, RBA and Bank of Canada — with the next scheduled decision and a link to the official source.
| Central bank | Policy rate | Last decision | Last statement | Next meeting | Meeting calendar |
|---|---|---|---|---|---|
| Federal Reserve (FOMC) USD · Federal funds target range | 3.50% – 3.75% | Held | 29 Jul 2026 | calendar time | |
| European Central Bank EUR · Deposit facility rate | 2.25% | Held | 23 Jul 2026 | ||
| Bank of England GBP · Bank Rate | 3.75% | Held | 30 Jul 2026 | ||
| Bank of Japan JPY · Overnight call-rate target | ~1.00% | Held | 31 Jul 2026 | ||
| Reserve Bank of Australia AUD · Cash rate target | 4.35% | Held | 11 Aug 2026 | ||
| Bank of Canada CAD · Overnight rate target | 2.25% | Held | 15 Jul 2026 | calendar time |
Use the official number as the starting point, then time the next meeting on the calendar.
A central-bank policy rate is the overnight interest rate that bank sets as its operational target. For the United States that is the federal funds target range; for the euro area traders usually quote the ECB deposit facility; for the United Kingdom it is Bank Rate; for Japan it is the overnight call-rate target. Forex prices the expected path of these rates, not only the last print.
Interest-rate differentials are a core driver of G10 FX. If the Federal Reserve holds a higher policy rate than the ECB, USD often attracts yield versus EUR — until markets price cuts. The board lists the last published official rate, the last date the rate actually changed, and the next scheduled decision. When our economic calendar has a matching high-impact rate event, that timestamp is used for the next meeting so the countdown matches the news calendar. Always open the official statement: a 0 bp hold with a hawkish vote can reprice a pair as much as a 25 bp move.
Suppose the FOMC holds 3.50%–3.75% and the next meeting is in mid-September, while the ECB deposit facility is 2.25% with a decision in the same week. The USD–EUR policy gap is the spread between those official rates. A trader still checks CPI and the statement language before treating that gap as a trend. Use the economic calendar for the exact release time and the news-risk calculator if you might trade the announcement.
Treating a blog or social screenshot as the current Fed funds rate. The only authoritative US figure is the FOMC target range on federalreserve.gov. Broker apps can lag a statement by minutes and still show the old range. This page links each rate to the official source so you can verify before a live decision.
Mark the next FOMC, ECB and BoE dates together. Overlapping decision weeks are when EUR/USD and GBP/USD spreads widen. Reduce size with the news-risk calculator, or stay flat through the statement if you cannot define invalidation in advance.
Educational data only. Policy rates change at scheduled meetings and can be revised. This is not personal investment advice. Verify every figure on the official central-bank page before trading.