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Central bank policy rates and meetings

Central bank policy rates set the price of the eight major currencies. Here is the rate the Fed, the ECB, the BoJ, the BoE, the SNB, the RBA, the RBNZ and the BoC have set, when each one meets next, and the thing it says it is watching.

The next central bank decision is the Reserve Bank of Australia on Tuesday, 8 December 2026.

By Mike, founder of MacroSetup. Page updated . Rates as the research last recorded them, 6 November 2026, 21:12 Amsterdam time. Meeting dates from each bank's own schedule, checked 13 October 2026.

The next central bank meetings

  • Tue, 8 Dec 2026

    Reserve Bank of Australia (RBA)

    04:30 Amsterdam, 14:30 Sydney

    AUD, now at 4.85%

  • Wed, 9 Dec 2026

    Bank of Canada (BoC)

    15:45 Amsterdam, 09:45 Ottawa

    CAD, now at 2.50%

  • Wed, 9 Dec 2026

    Federal Reserve (Fed)

    20:00 Amsterdam, 14:00 New York

    USD, now at 3.75 to 4.00%, with the Summary of Economic Projections

  • Wed, 9 Dec 2026

    Reserve Bank of New Zealand (RBNZ)

    02:00 Amsterdam, 14:00 Wellington

    NZD, now at 2.75%, with the Monetary Policy Statement

  • Thu, 10 Dec 2026

    Swiss National Bank (SNB)

    09:30 Amsterdam, 09:30 Zurich

    CHF, now at 0.00%

  • Thu, 17 Dec 2026

    Bank of England (BoE)

    13:00 Amsterdam, 12:00 London

    GBP, now at 4.00%

Dates as the banks publish them. What a meeting does to a currency score, and the event risk it puts on a setup, is inside the app.

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What time is the next central bank decision in your time zone

Each bank's next decision, and its press conference where it holds one at a fixed time, in London, New York, UTC, India, Lagos, Nairobi, Johannesburg, Karachi, Manila, Dubai, Tokyo and Sydney, each on its own clock that day. The soonest is open; open any other bank for its 12 times.

  • Reserve Bank of Australia (RBA): Tue 8 Dec14:30 Sydney, 03:30 London

    Tuesday 8 December 2026. The Reserve Bank of Australia announces at 14:30 Sydney time, with the press conference at 15:30.

    The Reserve Bank of Australia's next decision and press conference, Tuesday 8 December 2026, in 12 time zones
    WhereDecisionPress conference
    LondonGMT03:30Tue 8 Dec04:30Tue 8 Dec
    New YorkEST22:30Mon 7 Dec23:30Mon 7 Dec
    UTC03:30Tue 8 Dec04:30Tue 8 Dec
    IndiaIST09:00Tue 8 Dec10:00Tue 8 Dec
    LagosWAT04:30Tue 8 Dec05:30Tue 8 Dec
    NairobiEAT06:30Tue 8 Dec07:30Tue 8 Dec
    JohannesburgSAST05:30Tue 8 Dec06:30Tue 8 Dec
    KarachiPKT08:30Tue 8 Dec09:30Tue 8 Dec
    ManilaPHT11:30Tue 8 Dec12:30Tue 8 Dec
    DubaiGST07:30Tue 8 Dec08:30Tue 8 Dec
    TokyoJST12:30Tue 8 Dec13:30Tue 8 Dec
    SydneyAEDT14:30Tue 8 Dec15:30Tue 8 Dec

    On Tuesday 8 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The RBA decision explained.

  • Reserve Bank of New Zealand (RBNZ): Wed 9 Dec14:00 Wellington, 01:00 London

    Wednesday 9 December 2026. The Reserve Bank of New Zealand announces at 14:00 Wellington time, with the media conference at 15:00.

    The Reserve Bank of New Zealand's next decision and media conference, Wednesday 9 December 2026, in 12 time zones
    WhereDecisionMedia conference
    LondonGMT01:00Wed 9 Dec02:00Wed 9 Dec
    New YorkEST20:00Tue 8 Dec21:00Tue 8 Dec
    UTC01:00Wed 9 Dec02:00Wed 9 Dec
    IndiaIST06:30Wed 9 Dec07:30Wed 9 Dec
    LagosWAT02:00Wed 9 Dec03:00Wed 9 Dec
    NairobiEAT04:00Wed 9 Dec05:00Wed 9 Dec
    JohannesburgSAST03:00Wed 9 Dec04:00Wed 9 Dec
    KarachiPKT06:00Wed 9 Dec07:00Wed 9 Dec
    ManilaPHT09:00Wed 9 Dec10:00Wed 9 Dec
    DubaiGST05:00Wed 9 Dec06:00Wed 9 Dec
    TokyoJST10:00Wed 9 Dec11:00Wed 9 Dec
    SydneyAEDT12:00Wed 9 Dec13:00Wed 9 Dec

    On Wednesday 9 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The RBNZ decision explained.

  • Bank of Canada (BoC): Wed 9 Dec09:45 Ottawa, 14:45 London

    Wednesday 9 December 2026. The Bank of Canada announces at 09:45 Ottawa time.

    The Bank of Canada's next decision, Wednesday 9 December 2026, in 12 time zones
    WhereDecision
    LondonGMT14:45Wed 9 Dec
    New YorkEST09:45Wed 9 Dec
    UTC14:45Wed 9 Dec
    IndiaIST20:15Wed 9 Dec
    LagosWAT15:45Wed 9 Dec
    NairobiEAT17:45Wed 9 Dec
    JohannesburgSAST16:45Wed 9 Dec
    KarachiPKT19:45Wed 9 Dec
    ManilaPHT22:45Wed 9 Dec
    DubaiGST18:45Wed 9 Dec
    TokyoJST23:45Wed 9 Dec
    SydneyAEDT01:45Thu 10 Dec

    On Wednesday 9 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The Bank of Canada decision explained.

  • Federal Reserve (Fed): Wed 9 Dec14:00 New York, 19:00 London

    Wednesday 9 December 2026. The Federal Reserve announces at 14:00 New York time, with the press conference at 14:30.

    The Federal Reserve's next decision and press conference, Wednesday 9 December 2026, in 12 time zones
    WhereDecisionPress conference
    LondonGMT19:00Wed 9 Dec19:30Wed 9 Dec
    New YorkEST14:00Wed 9 Dec14:30Wed 9 Dec
    UTC19:00Wed 9 Dec19:30Wed 9 Dec
    IndiaIST00:30Thu 10 Dec01:00Thu 10 Dec
    LagosWAT20:00Wed 9 Dec20:30Wed 9 Dec
    NairobiEAT22:00Wed 9 Dec22:30Wed 9 Dec
    JohannesburgSAST21:00Wed 9 Dec21:30Wed 9 Dec
    KarachiPKT00:00Thu 10 Dec00:30Thu 10 Dec
    ManilaPHT03:00Thu 10 Dec03:30Thu 10 Dec
    DubaiGST23:00Wed 9 Dec23:30Wed 9 Dec
    TokyoJST04:00Thu 10 Dec04:30Thu 10 Dec
    SydneyAEDT06:00Thu 10 Dec06:30Thu 10 Dec

    On Wednesday 9 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The FOMC decision explained.

  • Swiss National Bank (SNB): Thu 10 Dec09:30 Zurich, 08:30 London

    Thursday 10 December 2026. The Swiss National Bank announces at 09:30 Zurich time, with the news conference at 10:00.

    The Swiss National Bank's next decision and news conference, Thursday 10 December 2026, in 12 time zones
    WhereDecisionNews conference
    LondonGMT08:30Thu 10 Dec09:00Thu 10 Dec
    New YorkEST03:30Thu 10 Dec04:00Thu 10 Dec
    UTC08:30Thu 10 Dec09:00Thu 10 Dec
    IndiaIST14:00Thu 10 Dec14:30Thu 10 Dec
    LagosWAT09:30Thu 10 Dec10:00Thu 10 Dec
    NairobiEAT11:30Thu 10 Dec12:00Thu 10 Dec
    JohannesburgSAST10:30Thu 10 Dec11:00Thu 10 Dec
    KarachiPKT13:30Thu 10 Dec14:00Thu 10 Dec
    ManilaPHT16:30Thu 10 Dec17:00Thu 10 Dec
    DubaiGST12:30Thu 10 Dec13:00Thu 10 Dec
    TokyoJST17:30Thu 10 Dec18:00Thu 10 Dec
    SydneyAEDT19:30Thu 10 Dec20:00Thu 10 Dec

    On Thursday 10 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The SNB decision explained.

  • Bank of England (BoE): Thu 17 Dec12:00 London, 07:00 New York

    Thursday 17 December 2026. The Bank of England announces at 12:00 London time.

    The Bank of England's next decision, Thursday 17 December 2026, in 12 time zones
    WhereDecision
    LondonGMT12:00Thu 17 Dec
    New YorkEST07:00Thu 17 Dec
    UTC12:00Thu 17 Dec
    IndiaIST17:30Thu 17 Dec
    LagosWAT13:00Thu 17 Dec
    NairobiEAT15:00Thu 17 Dec
    JohannesburgSAST14:00Thu 17 Dec
    KarachiPKT17:00Thu 17 Dec
    ManilaPHT20:00Thu 17 Dec
    DubaiGST16:00Thu 17 Dec
    TokyoJST21:00Thu 17 Dec
    SydneyAEDT23:00Thu 17 Dec

    On Thursday 17 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The Bank of England decision explained.

  • European Central Bank (ECB): Thu 17 Dec14:15 Frankfurt, 13:15 London

    Thursday 17 December 2026. The European Central Bank announces at 14:15 Frankfurt time, with the press conference at 14:45.

    The European Central Bank's next decision and press conference, Thursday 17 December 2026, in 12 time zones
    WhereDecisionPress conference
    LondonGMT13:15Thu 17 Dec13:45Thu 17 Dec
    New YorkEST08:15Thu 17 Dec08:45Thu 17 Dec
    UTC13:15Thu 17 Dec13:45Thu 17 Dec
    IndiaIST18:45Thu 17 Dec19:15Thu 17 Dec
    LagosWAT14:15Thu 17 Dec14:45Thu 17 Dec
    NairobiEAT16:15Thu 17 Dec16:45Thu 17 Dec
    JohannesburgSAST15:15Thu 17 Dec15:45Thu 17 Dec
    KarachiPKT18:15Thu 17 Dec18:45Thu 17 Dec
    ManilaPHT21:15Thu 17 Dec21:45Thu 17 Dec
    DubaiGST17:15Thu 17 Dec17:45Thu 17 Dec
    TokyoJST22:15Thu 17 Dec22:45Thu 17 Dec
    SydneyAEDT00:15Fri 18 Dec00:45Fri 18 Dec

    On Thursday 17 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The ECB decision explained.

  • Bank of Japan (BoJ): Fri 18 DecNo fixed time; press conference at 15:30 Tokyo

    Friday 18 December 2026. The Bank of Japan sets no time for the decision itself: the statement comes out when the meeting ends, so no table can give its minute. Its press conference is fixed, at 15:30 Tokyo time.

    The Bank of Japan's next decision and press conference, Friday 18 December 2026, in 12 time zones
    WherePress conference
    LondonGMT06:30Fri 18 Dec
    New YorkEST01:30Fri 18 Dec
    UTC06:30Fri 18 Dec
    IndiaIST12:00Fri 18 Dec
    LagosWAT07:30Fri 18 Dec
    NairobiEAT09:30Fri 18 Dec
    JohannesburgSAST08:30Fri 18 Dec
    KarachiPKT11:30Fri 18 Dec
    ManilaPHT14:30Fri 18 Dec
    DubaiGST10:30Fri 18 Dec
    TokyoJST15:30Fri 18 Dec
    SydneyAEDT17:30Fri 18 Dec

    On Friday 18 December 2026 London is on GMT, New York on EST and Sydney on AEDT. The Bank of Japan decision explained.

Central bank meeting calendar 2026 and 2027

Every scheduled rate decision of the eight central banks in 2026 and 2027, from each bank's own published schedule, checked on 13 October 2026. The date is the day the decision is announced. Dates in bold come with projections or a policy report, and dates that have passed are greyed out. The 2027 dates month by month, with the busiest days and the times in London and New York, have a page of their own.

Central bank meeting calendar, 2026 and 2027
Central bank20262027
Federal Reserve (Fed)14:00 New York time
  • 28 Jan (passed)
  • 18 Mar (with the Summary of Economic Projections) (passed)
  • 29 Apr (passed)
  • 17 Jun (with the Summary of Economic Projections) (passed)
  • 29 Jul (passed)
  • 16 Sept (with the Summary of Economic Projections) (passed)
  • 28 Oct (passed)
  • 9 Dec (with the Summary of Economic Projections)
  • 27 Jan
  • 17 Mar (with the Summary of Economic Projections)
  • 28 Apr
  • 9 Jun (with the Summary of Economic Projections)
  • 28 Jul
  • 15 Sept (with the Summary of Economic Projections)
  • 27 Oct
  • 8 Dec (with the Summary of Economic Projections)
European Central Bank (ECB)14:15 Frankfurt time
  • 5 Feb (passed)
  • 19 Mar (with the staff macroeconomic projections) (passed)
  • 30 Apr (passed)
  • 11 Jun (with the staff macroeconomic projections) (passed)
  • 23 Jul (passed)
  • 10 Sept (with the staff macroeconomic projections) (passed)
  • 29 Oct (passed)
  • 17 Dec (with the staff macroeconomic projections)
  • 4 Feb
  • 18 Mar (with the staff macroeconomic projections)
  • 29 Apr
  • 10 Jun (with the staff macroeconomic projections)
  • 22 Jul
  • 9 Sept (with the staff macroeconomic projections)
  • 28 Oct
  • 16 Dec (with the staff macroeconomic projections)
Bank of England (BoE)12:00 London time
  • 5 Feb (with the Monetary Policy Report) (passed)
  • 19 Mar (passed)
  • 30 Apr (with the Monetary Policy Report) (passed)
  • 18 Jun (passed)
  • 30 Jul (with the Monetary Policy Report) (passed)
  • 17 Sept (passed)
  • 5 Nov (with the Monetary Policy Report) (passed)
  • 17 Dec
  • 4 Feb (with the Monetary Policy Report)
  • 18 Mar
  • 29 Apr (with the Monetary Policy Report)
  • 17 Jun
  • 29 Jul (with the Monetary Policy Report)
  • 16 Sept
  • 4 Nov (with the Monetary Policy Report)
  • 16 Dec
Bank of Japan (BoJ)No fixed time
  • 23 Jan (with the Outlook for Economic Activity and Prices) (passed)
  • 19 Mar (passed)
  • 28 Apr (with the Outlook for Economic Activity and Prices) (passed)
  • 16 Jun (passed)
  • 31 Jul (with the Outlook for Economic Activity and Prices) (passed)
  • 18 Sept (passed)
  • 30 Oct (with the Outlook for Economic Activity and Prices) (passed)
  • 18 Dec
  • 22 Jan (with the Outlook for Economic Activity and Prices)
  • 18 Mar
  • 28 Apr (with the Outlook for Economic Activity and Prices)
  • 11 Jun
  • 22 Jul (with the Outlook for Economic Activity and Prices)
  • 22 Sept
  • 29 Oct (with the Outlook for Economic Activity and Prices)
  • 17 Dec
Swiss National Bank (SNB)09:30 Zurich time
  • 19 Mar (passed)
  • 18 Jun (passed)
  • 24 Sept (passed)
  • 10 Dec
  • 18 Mar
  • 24 Jun
  • 23 Sept
  • 16 Dec
Reserve Bank of Australia (RBA)14:30 Sydney time
  • 3 Feb (with the Statement on Monetary Policy) (passed)
  • 17 Mar (passed)
  • 5 May (with the Statement on Monetary Policy) (passed)
  • 16 Jun (passed)
  • 11 Aug (with the Statement on Monetary Policy) (passed)
  • 29 Sept (passed)
  • 3 Nov (with the Statement on Monetary Policy) (passed)
  • 8 Dec
  • 9 Feb (with the Statement on Monetary Policy)
  • 23 Mar
  • 4 May (with the Statement on Monetary Policy)
  • 22 Jun
  • 10 Aug (with the Statement on Monetary Policy)
  • 28 Sept
  • 2 Nov (with the Statement on Monetary Policy)
  • 14 Dec
Reserve Bank of New Zealand (RBNZ)14:00 Wellington time
  • 18 Feb (with the Monetary Policy Statement) (passed)
  • 8 Apr (passed)
  • 27 May (with the Monetary Policy Statement) (passed)
  • 8 Jul (passed)
  • 2 Sept (with the Monetary Policy Statement) (passed)
  • 28 Oct (passed)
  • 9 Dec (with the Monetary Policy Statement)
  • 10 Feb
  • 17 Mar (with the Monetary Policy Statement)
  • 5 May
  • 16 Jun (with the Monetary Policy Statement)
  • 4 Aug
  • 15 Sept (with the Monetary Policy Statement)
  • 27 Oct
  • 8 Dec (with the Monetary Policy Statement)
Bank of Canada (BoC)09:45 Ottawa time
  • 28 Jan (with the Monetary Policy Report) (passed)
  • 18 Mar (passed)
  • 29 Apr (with the Monetary Policy Report) (passed)
  • 10 Jun (passed)
  • 15 Jul (with the Monetary Policy Report) (passed)
  • 2 Sept (passed)
  • 28 Oct (with the Monetary Policy Report) (passed)
  • 9 Dec
  • 27 Jan (with the Monetary Policy Report)
  • 3 Mar
  • 28 Apr (with the Monetary Policy Report)
  • 2 Jun
  • 21 Jul (with the Monetary Policy Report)
  • 8 Sept
  • 27 Oct (with the Monetary Policy Report)
  • 8 Dec

In bold: the Fed's Summary of Economic Projections, the ECB's staff projections, the Bank of England's Monetary Policy Report, the Bank of Japan's Outlook Report, the RBA's Statement on Monetary Policy, the RBNZ's Monetary Policy Statement and the Bank of Canada's Monetary Policy Report.

  • Federal Reserve: Two-day meetings; the decision comes on the second day. The Fed calls each date tentative until the meeting before it.
  • European Central Bank: Two-day meetings; the decision comes on the second day. Projections come four times a year, in March, June, September and December.
  • Bank of Japan: Two-day meetings; the decision comes on the second day, at no fixed time.
  • Swiss National Bank: Four assessments a year, each with a news conference at 10:00.
  • Reserve Bank of Australia: Two-day meetings; the decision comes on the second day. The Statement on Monetary Policy comes with the February, May, August and November decisions.
  • Reserve Bank of New Zealand: Seven decisions in 2026 and eight from 2027. The February 2027 decision was moved a week earlier, so older lists show another date.

Banks can move a date or decide between meetings, and the Fed calls each date tentative until the meeting before it. The sources: Federal Reserve, FOMC meeting calendars, ECB, Governing Council meeting calendar, ECB, monetary policy decisions, Bank of England, upcoming MPC dates, Bank of England, MPC dates for 2027, Bank of Japan, Monetary Policy Meetings schedule, Swiss National Bank, monetary policy decisions, Swiss National Bank, event schedule, Reserve Bank of Australia, Monetary Policy Board meeting schedules, Reserve Bank of Australia, Statement on Monetary Policy, Reserve Bank of New Zealand, OCR decision dates to February 2028, Bank of Canada, 2026 schedule, Bank of Canada, 2027 schedule.

Central bank policy rates, one by one

Every bank has a target it has to hit and a set of numbers it says it is steering by. Read a release against that target and you know whether it moves the bank. Read it against the headline and you mostly learn what a newsroom finds interesting.

  • USD

    Federal Reserve (Fed)

    US dollar

    3.75 to 4.00%
    Target
    Maximum employment and stable prices, with inflation at 2% over the longer run
    What else moves the currency
    The world's main reserve currency. Tends to gain when markets turn cautious. Is it still a safe haven?
    Next meeting
    Wed, 9 Dec 2026

    How the Fed rate decision worksFOMC minutes

  • EUR

    European Central Bank (ECB)

    Euro

    2.50%
    Target
    Price stability: inflation at 2% over the medium term
    What else moves the currency
    Driven by the gap between ECB and Fed policy, growth in the euro area and energy prices.
    Next meeting
    Thu, 17 Dec 2026

    How the ECB rate decision works

  • JPY

    Bank of Japan (BoJ)

    Japanese yen

    1.25%
    Target
    Price stability: inflation at 2%
    What else moves the currency
    A safe haven that tends to gain when markets turn cautious, and a common funding currency in calm ones.
    Next meeting
    Fri, 18 Dec 2026

    How the BoJ rate decision works

  • GBP

    Bank of England (BoE)

    British pound

    4.00%
    Target
    Inflation at 2%, the target set by the government
    What else moves the currency
    Moves on UK inflation and labour data, and on how far the Bank is willing to go.
    Next meeting
    Thu, 17 Dec 2026

    How the BoE rate decision works

  • CHF

    Swiss National Bank (SNB)

    Swiss franc

    0.00%
    Target
    Price stability: inflation below 2% a year
    What else moves the currency
    A safe haven that tends to gain when markets turn cautious.
    Next meeting
    Thu, 10 Dec 2026

    How the SNB rate decision works

  • AUD

    Reserve Bank of Australia (RBA)

    Australian dollar

    4.85%
    Target
    Inflation between 2 and 3%, and full employment
    What else moves the currency
    Tied to risk appetite and commodities, and to demand from China.
    Next meeting
    Tue, 8 Dec 2026

    How the RBA rate decision works

  • NZD

    Reserve Bank of New Zealand (RBNZ)

    New Zealand dollar

    2.75%
    Target
    Inflation between 1 and 3%, aiming for 2%
    What else moves the currency
    Tied to risk appetite and to what New Zealand exports, dairy first.
    Next meeting
    Wed, 9 Dec 2026

    How the RBNZ rate decision works

  • CAD

    Bank of Canada (BoC)

    Canadian dollar

    2.50%
    Target
    Inflation at 2%, the middle of a 1 to 3% range
    What else moves the currency
    Tied to oil prices and to the US economy, its largest trading partner.
    Next meeting
    Wed, 9 Dec 2026

    How the BoC rate decision worksBoC summary of deliberations

Hawkish, dovish, and the word that matters more

Hawkish means leaning towards higher rates, dovish towards lower ones. Useful words, and less useful than the one nobody puts in a headline: expected. A currency moves on the path the market thinks the bank will take, not on the rate it set this afternoon.

That is why a cut can lift a currency. If the market had priced two cuts and the bank delivers one while sounding unconvinced about the next, the expected path just moved up, whatever the decision itself said.

So the question to ask of every statement is narrow: did this change what the market expects the bank to do next, and by how much. Everything else is commentary. Hawkish vs dovish, in full

Where this sits in a score

The bank, its stance and its rate level make up the largest part of the fundamentals pillar, which is worth up to 35 points of a currency score out of 100. Members see each bank as a card: the last decision, the tone, the focus, the next meeting and what a change would do.

The longer piece on what a bank steers by is in the reading corner: what a central bank steers by.

Questions about the banks

When is the next central bank meeting?

The next central bank decision is the Reserve Bank of Australia on Tuesday, 8 December 2026. The calendar on this page lists every scheduled decision of the eight banks for 2026 and 2027, from each bank's own schedule.

Which central bank belongs to which major currency?

The Federal Reserve (USD), the European Central Bank (EUR), the Bank of Japan (JPY), the Bank of England (GBP), the Swiss National Bank (CHF), the Reserve Bank of Australia (AUD), the Reserve Bank of New Zealand (NZD) and the Bank of Canada (CAD).

What do hawkish and dovish mean?

Hawkish is leaning towards higher rates, usually because inflation worries the bank. Dovish is leaning towards lower rates, usually because growth or jobs worry it more. Both describe a direction of travel, not the rate itself.

Why can a rate cut make a currency rise?

Because the market had already priced more. If two cuts were expected and the bank delivers one while sounding unconvinced about the next, the expected path has moved up even though the rate has come down.

When does each bank meet next?

The next meeting of each of the eight is on its card on this page, and the calendar lists every scheduled decision, both from each bank's own published schedule. The rate itself follows the research, so a new decision shows up here on the day it is made. The rates and the gaps between them

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