The United States policy interest rate is the benchmark rate set by the Federal Reserve to influence borrowing costs, credit conditions, and inflation throughout the economy. It is the single most important price in United States's financial system.
Why FX traders watch it
Policy rate differentials between countries are the primary driver of carry-trade positioning and long-run FX equilibrium. When the Federal Reserve is hiking while others are on hold, the usd typically appreciates on an interest rate differential basis.
How to interpret the data
A surprise rate hike is usd-positive; a surprise cut is negative. Forward guidance and the policy statement accompanying each decision are often more market-moving than the rate change itself, as markets are usually well-positioned for the expected move.
Optional upper bound. Defaults to the current date.
api_key
CONDITIONAL
string
Required for non-USD announcement requests. USD announcement requests are public without an API key.
Example Usage
To retrieve මහ බැංකු ප්රතිපත්ති අනුපාතය data for USD from 2023:
GET https://fxmacrodata.com/api/v1/announcements/usd/policy_rate?start_date=2023-01-01&end_date=2023-12-31
Frequently Asked Questions
How do I get the Federal Reserve policy rate history via API?
Policy rate history for United States is available at /api/v1/announcements/usd/policy_rate, with announcement_datetime for every meeting decision.
What happens to the usd when the Federal Reserve raises rates?
Rate hikes attract capital inflows seeking higher yield, which typically strengthens the usd in the short run. However, very aggressive hikes can raise recession fears and eventually weaken the currency.