About CbRates
CbRates is a free, institutional-grade central bank rate monitor covering 20+ major central banks. It is designed for macro traders, FX analysts, and researchers who need a single view of the global rate landscape — with differentials, real rates, and meeting timing built in.
What CbRates Does
CbRates aggregates policy rates from central banks across G10 and major emerging markets, then layers analytical context on top of the raw numbers:
- Policy rates — nominal overnight or reference rates for each central bank, updated from FRED where available or sourced from the data manifest.
- Bilateral differentials vs USD — how each country's rate compares to the US Federal Funds rate. The sign matters: a positive differential means the foreign rate is higher than the US rate, creating a carry incentive into that currency.
- Real rates — nominal rate minus latest CPI inflation. Negative real rates signal the central bank is running behind the curve; strongly positive real rates suggest restrictive policy.
- Next meeting countdown — days until the next scheduled monetary policy decision, with a 30-day forward calendar view.
- Cycle classification — whether the bank is in a hiking, cutting, or hold cycle based on the direction of recent decisions.
How to Use the Rate Table
- Sort by any column to find the highest rates, widest differentials, or nearest meetings.
- Click any row to expand rate history and carry context for that bank.
- The Δ vs US column shows the carry direction: green means the foreign currency has a higher rate than USD (carry incentive into that currency); red means USD dominates the differential.
- Real rate colors: green is positive (restrictive policy), red is negative (real rate below zero — the central bank is not beating inflation).
Carry Screener
- The carry screener cross-references the rate differential table with the current volatility regime from the FX dashboard.
- Wide differentials in a Favorable carry regime mean the market environment supports carry strategies. In a Hostile regime (elevated volatility), carry trades are at risk regardless of differential size.
- The screener highlights the top carry candidates and the pairs where USD rate dominance is most pronounced.
How This Fits Into the 4xForecaster Framework
The 4xForecaster platform produces directional macro bias for FX through a multi-layer transmission chain. Rate differentials are a core input — they drive the RATES and CARRY drivers assigned to each currency pair on the FX dashboard.
CbRates makes the rate layer transparent and searchable. When the FX dashboard says a pair is driven by RATES, you can use CbRates to see exactly what the differential is, how long it has been in place, and when the next potential change event is.
The two products are complementary: CbRates gives you the rate context; the FX dashboard gives you the directional synthesis across regime, rates, dollar, and pair-level factors.
Coverage
CbRates covers the following central banks:
- G10: Federal Reserve (USD), ECB (EUR), Bank of England (GBP), Bank of Japan (JPY), Swiss National Bank (CHF), Reserve Bank of Australia (AUD), Reserve Bank of New Zealand (NZD), Bank of Canada (CAD), Sveriges Riksbank (SEK), Norges Bank (NOK)
- Major EM: Bank of Mexico (MXN), South African Reserve Bank (ZAR), Central Bank of Turkey (TRY), Reserve Bank of India (INR), People's Bank of China (CNY), Bank of Korea (KRW), Bank Indonesia (IDR), Central Bank of Brazil (BRL), Central Bank of Chile (CLP), Central Bank of Colombia (COP)
Data Quality Note
Rates sourced from FRED are updated automatically and labeled fred_live. All other rates are sourced from the data manifest and updated periodically by the operator. Manifest rates may lag decisions by a few days. Always verify before acting on any rate data.
Real rate figures use the most recent CPI reading at the time of the last manifest update. Inflation data lags by 30–60 days in most jurisdictions.