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Economy

Central banks and interest rates

The war with Iran pushed up fuel prices and inflation in 2026, and central banks turned towards higher rates: the US Federal Reserve and the European Central Bank raised them earlier in the year, and the RBI followed in October. Decisions, dissents and the next meetings.

Updated 2 November 2026
DXR / Wikimedia Commons (CC BY-SA 4.0)
Key facts
US Federal Reserve
3.75%–4%, held on 28 October 2026 in a 10–2 vote
Next Fed decision
9 December 2026
European Central Bank
Deposit rate 2.5%, held on 29 October 2026
Euro-area inflation
3.8% in September 2026
Next ECB decision
17 December 2026
RBI repo rate
5.50% since October 2026

Latest coverage5 stories

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·Rational Times Business Desk·2 min read

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In numbers

US 10-year Treasury yield

0%5%10%15%20%196019802000202010-year yield0%5%10%15%20%196019802000202010-year yield

Federal Reserve Board, H.15 Selected Interest Rates (10-year constant maturity) · latest: 2026-08

In numbers

Consumer price inflation

-10%0%10%20%30%197019801990200020102020IndiaIndia 1970: 5.09%India 1971: 3.08%India 1972: 6.44%India 1973: 16.9%India 1974: 28.6%India 1975: 5.75%India 1976: -7.63%India 1977: 8.31%India 1978: 2.52%India 1979: 6.28%India 1980: 11.4%India 1981: 13.1%India 1982: 7.89%India 1983: 11.9%India 1984: 8.32%India 1985: 5.56%India 1986: 8.73%India 1987: 8.8%India 1988: 9.38%India 1989: 7.07%India 1990: 8.97%India 1991: 13.9%India 1992: 11.8%India 1993: 6.33%India 1994: 10.3%India 1995: 10.2%India 1996: 8.98%India 1997: 7.16%India 1998: 13.2%India 1999: 4.67%India 2000: 4.01%India 2001: 3.78%India 2002: 4.3%India 2003: 3.81%India 2004: 3.77%India 2005: 4.25%India 2006: 5.8%India 2007: 6.37%India 2008: 8.35%India 2009: 10.9%India 2010: 12%India 2011: 8.91%India 2012: 9.48%India 2013: 10%India 2014: 6.67%India 2015: 4.91%India 2016: 4.95%India 2017: 3.33%India 2018: 3.94%India 2019: 3.73%India 2020: 6.62%India 2021: 5.13%India 2022: 6.7%India 2023: 5.65%India 2024: 4.95%United StatesUnited States 1970: 5.84%United States 1971: 4.29%United States 1972: 3.27%United States 1973: 6.18%United States 1974: 11.1%United States 1975: 9.14%United States 1976: 5.74%United States 1977: 6.5%United States 1978: 7.63%United States 1979: 11.3%United States 1980: 13.6%United States 1981: 10.3%United States 1982: 6.13%United States 1983: 3.21%United States 1984: 4.3%United States 1985: 3.55%United States 1986: 1.9%United States 1987: 3.66%United States 1988: 4.08%United States 1989: 4.83%United States 1990: 5.4%United States 1991: 4.23%United States 1992: 3.03%United States 1993: 2.95%United States 1994: 2.61%United States 1995: 2.81%United States 1996: 2.93%United States 1997: 2.34%United States 1998: 1.55%United States 1999: 2.19%United States 2000: 3.38%United States 2001: 2.83%United States 2002: 1.59%United States 2003: 2.27%United States 2004: 2.68%United States 2005: 3.39%United States 2006: 3.23%United States 2007: 2.85%United States 2008: 3.84%United States 2009: -0.36%United States 2010: 1.64%United States 2011: 3.16%United States 2012: 2.07%United States 2013: 1.46%United States 2014: 1.62%United States 2015: 0.12%United States 2016: 1.26%United States 2017: 2.13%United States 2018: 2.44%United States 2019: 1.81%United States 2020: 1.23%United States 2021: 4.7%United States 2022: 8%United States 2023: 4.12%United States 2024: 2.95%WorldWorld 1981: 12.4%World 1982: 10.2%World 1983: 8.67%World 1984: 8.08%World 1985: 6.81%World 1986: 5.78%World 1987: 5.71%World 1988: 7.11%World 1989: 6.92%World 1990: 8.06%World 1991: 9%World 1992: 7.64%World 1993: 7.14%World 1994: 10.3%World 1995: 9.08%World 1996: 6.53%World 1997: 5.55%World 1998: 5.1%World 1999: 3.04%World 2000: 3.43%World 2001: 3.84%World 2002: 2.91%World 2003: 3.03%World 2004: 3.52%World 2005: 4.11%World 2006: 4.27%World 2007: 4.81%World 2008: 8.95%World 2009: 2.86%World 2010: 3.33%World 2011: 4.82%World 2012: 3.73%World 2013: 2.65%World 2014: 2.35%World 2015: 1.44%World 2016: 1.61%World 2017: 2.25%World 2018: 2.44%World 2019: 2.21%World 2020: 1.91%World 2021: 3.48%World 2022: 7.93%World 2023: 5.73%-10%0%10%20%30%198020002020IndiaIndia 1970: 5.09%India 1971: 3.08%India 1972: 6.44%India 1973: 16.9%India 1974: 28.6%India 1975: 5.75%India 1976: -7.63%India 1977: 8.31%India 1978: 2.52%India 1979: 6.28%India 1980: 11.4%India 1981: 13.1%India 1982: 7.89%India 1983: 11.9%India 1984: 8.32%India 1985: 5.56%India 1986: 8.73%India 1987: 8.8%India 1988: 9.38%India 1989: 7.07%India 1990: 8.97%India 1991: 13.9%India 1992: 11.8%India 1993: 6.33%India 1994: 10.3%India 1995: 10.2%India 1996: 8.98%India 1997: 7.16%India 1998: 13.2%India 1999: 4.67%India 2000: 4.01%India 2001: 3.78%India 2002: 4.3%India 2003: 3.81%India 2004: 3.77%India 2005: 4.25%India 2006: 5.8%India 2007: 6.37%India 2008: 8.35%India 2009: 10.9%India 2010: 12%India 2011: 8.91%India 2012: 9.48%India 2013: 10%India 2014: 6.67%India 2015: 4.91%India 2016: 4.95%India 2017: 3.33%India 2018: 3.94%India 2019: 3.73%India 2020: 6.62%India 2021: 5.13%India 2022: 6.7%India 2023: 5.65%India 2024: 4.95%United StatesUnited States 1970: 5.84%United States 1971: 4.29%United States 1972: 3.27%United States 1973: 6.18%United States 1974: 11.1%United States 1975: 9.14%United States 1976: 5.74%United States 1977: 6.5%United States 1978: 7.63%United States 1979: 11.3%United States 1980: 13.6%United States 1981: 10.3%United States 1982: 6.13%United States 1983: 3.21%United States 1984: 4.3%United States 1985: 3.55%United States 1986: 1.9%United States 1987: 3.66%United States 1988: 4.08%United States 1989: 4.83%United States 1990: 5.4%United States 1991: 4.23%United States 1992: 3.03%United States 1993: 2.95%United States 1994: 2.61%United States 1995: 2.81%United States 1996: 2.93%United States 1997: 2.34%United States 1998: 1.55%United States 1999: 2.19%United States 2000: 3.38%United States 2001: 2.83%United States 2002: 1.59%United States 2003: 2.27%United States 2004: 2.68%United States 2005: 3.39%United States 2006: 3.23%United States 2007: 2.85%United States 2008: 3.84%United States 2009: -0.36%United States 2010: 1.64%United States 2011: 3.16%United States 2012: 2.07%United States 2013: 1.46%United States 2014: 1.62%United States 2015: 0.12%United States 2016: 1.26%United States 2017: 2.13%United States 2018: 2.44%United States 2019: 1.81%United States 2020: 1.23%United States 2021: 4.7%United States 2022: 8%United States 2023: 4.12%United States 2024: 2.95%WorldWorld 1981: 12.4%World 1982: 10.2%World 1983: 8.67%World 1984: 8.08%World 1985: 6.81%World 1986: 5.78%World 1987: 5.71%World 1988: 7.11%World 1989: 6.92%World 1990: 8.06%World 1991: 9%World 1992: 7.64%World 1993: 7.14%World 1994: 10.3%World 1995: 9.08%World 1996: 6.53%World 1997: 5.55%World 1998: 5.1%World 1999: 3.04%World 2000: 3.43%World 2001: 3.84%World 2002: 2.91%World 2003: 3.03%World 2004: 3.52%World 2005: 4.11%World 2006: 4.27%World 2007: 4.81%World 2008: 8.95%World 2009: 2.86%World 2010: 3.33%World 2011: 4.82%World 2012: 3.73%World 2013: 2.65%World 2014: 2.35%World 2015: 1.44%World 2016: 1.61%World 2017: 2.25%World 2018: 2.44%World 2019: 2.21%World 2020: 1.91%World 2021: 3.48%World 2022: 7.93%World 2023: 5.73%
IndiaUnited StatesWorld

World Bank, World Development Indicators (FP.CPI.TOTL.ZG) · latest: 2024