ForeXistenZ › Central banks
Central banks
Interest rates are the price of a currency — and central banks set them. Here is every major central bank, where it sits and how it moves its currency.
FEDFederal Reserve System
Washington, D.C., United States — Sets US interest rates. Every Fed decision moves the dollar — the currency on one side of almost nine in ten FX trades.
ECBEuropean Central Bank
Frankfurt, Euro area — Runs monetary policy for the twenty countries of the euro, the world’s second reserve currency.
BOEBank of England
London, United Kingdom — The Old Lady of Threadneedle Street — sets UK rates and guards one of the largest gold vaults on Earth.
BOJBank of Japan
Tokyo, Japan — For decades the anchor of near-zero rates — its every move shakes the yen carry trade.
SNBSwiss National Bank
Zurich / Bern, Switzerland — Guardian of the Swiss franc, the safe haven the market runs to when fear rises.
PBOCPeople's Bank of China
Beijing, China — Sets the daily reference rate of the yuan and is one of the world’s biggest buyers of gold.
BOCBank of Canada
Ottawa, Canada — Steers the Canadian dollar — the loonie, closely linked to the price of oil.
RBAReserve Bank of Australia
Sydney, Australia — Sets rates for the Australian dollar, the market’s favourite gauge of risk appetite and China demand.
RBNZReserve Bank of New Zealand
Wellington, New Zealand — The first central bank in the world to adopt inflation targeting.
RIKSBANKSveriges Riksbank
Stockholm, Sweden — The oldest central bank in the world, founded in 1668.
NORGESNorges Bank
Oslo, Norway — Runs the krone — and manages Norway’s oil fund, the largest sovereign wealth fund on Earth.
RBIReserve Bank of India
Mumbai, India — Manages the rupee for the world’s most populous nation.
BOKBank of Korea
Seoul, South Korea — Sets rates for the won, one of Asia’s most traded currencies.
MASMonetary Authority of Singapore
Singapore, Singapore — Steers policy through the exchange rate itself, not an interest rate — a rare model.
HKMAHong Kong Monetary Authority
Hong Kong, Hong Kong SAR — Defends the Hong Kong dollar’s peg to the US dollar.
BANXICOBanco de México
Mexico City, Mexico — Sets rates for the peso, the most traded currency of Latin America.
BCBBanco Central do Brasil
Brasília, Brazil — Guards the real and runs Pix, one of the world’s fastest-growing instant payment systems.
SARBSouth African Reserve Bank
Pretoria, South Africa — Manages the rand, one of the most liquid emerging-market currencies.
BOGBank of Ghana
Accra, Ghana — Ghana’s central bank — buying domestic gold to strengthen the cedi.
CBNCentral Bank of Nigeria
Abuja, Nigeria — Manages the naira for Africa’s most populous country.
SAMASaudi Central Bank
Riyadh, Saudi Arabia — Keeps the riyal pegged to the dollar — the foundation of oil priced in dollars.
CBUAECentral Bank of the UAE
Abu Dhabi, United Arab Emirates — Holds the dirham’s peg to the dollar.
CBRTCentral Bank of the Republic of Türkiye
Ankara, Türkiye — Fights for the lira — a lesson in what inflation does to a currency.
NBPNarodowy Bank Polski
Warsaw, Poland — One of the most determined gold buyers among the world’s central banks.
BOIBank of Israel
Jerusalem, Israel — Manages the shekel.
BIBank Indonesia
Jakarta, Indonesia — Guards the rupiah for South-East Asia’s largest economy.