BANK OF FINLAND - Changes in the base rate

Changes in the base rate from 1867

The base rate is 2 percent until 30 Jun 2012.

At its highest the base rate has been 10 percent and at its lowest 1.25 percent.

The base rate is an administered rate that was set by the Bank of Finland up to end-1998. As from 1999, the base rate is affirmed by the Ministry of Finance each year in June and December, with effect for the next half calendar year.

The base rate is based on published twelve-month market rates for the three-month period prior to each affirmation date and is the average of these rates over the three-month period, calculated to the accuracy of one-quarter percentage point. Until further notice, the market rate used in the calculation is the twelve-month Euribor (365 days).


Period	Base rate
1 Jan 1867 – 19 Mar 1868	6.00
20 Mar 1868 – 31 Dec 1869	5.00
1 Jan 1870 – 31 Dec 1870	4.50
1 Jan 1871 – 31 Dec 1875	4.00
1 Jan 1876 – 31 May 1876	4.50
1 Jun 1877 – 31 Dec 1878	5.00
1 Jan 1879 – 31 Dec 1879	5.50
1 Jan 1880 – 31 Aug 1880	5.00
1 Sep 1880 – 3 Dec 1886	4.50
4 Dec 1886 – 17 Mar 1890	4.00
18 Mar 1890 – 17 Nov 1890	4.50
18 Nov 1890 – 1 Dec 1890	5.00
2 Dec 1891 – 2 Dec 1893	5.50
3 Dec 1893 – 9 Feb 1895	5.00
10 Feb 1895 – 3 Oct 1895	4.50
4 Oct 1895 – 20 Oct 1896	4.00
21 Oct 1896 – 17 Oct 1898	4.50
18 Oct 1898 – 4 Oct 1899	5.00
5 Oct 1899 – 28 Oct 1899	5.50
29 Oct 1899 – 18 Sep 1901	6.00
19 Sep 1901 – 8 Feb 1902	5.50
9 Feb 1902 – 27 Feb 1907	5.00
28 Feb 1907 – 6 Nov 1907	5.50
7 Nov 1907 – 27 Nov 1907	6.00
28 Nov 1907 – 7 Aug 1908	6.50
8 Aug 1908 – 19 Sep 1908	6.00
20 Sep 1908 – 24 Apr 1909	5.50
25 Apr 1909 – 15 Dec 1910	5.00
16 Dec 1910 – 18 Feb 1911	5.50
19 Feb 1911 – 16 May 1911	5.00
17 May 1911 – 27 Jan 1912	4.50
28 Jan 1912 – 9 Nov 1912	5.00
10 Nov 1912 – 24 Nov 1913	6.00
25 Nov 1913 – 31 Mar 1914	5.50
1 Apr 1914 – 3 Aug 1914	5.00
4 Aug 1914 – 5 Sep 1914	7.00
6 Sep 1914 – 9 Jan 1915	6.00
10 Jan 1915 – 18 May 1916	5.50
19 May 1916 – 7 Jan 1919	5.00
8 Jan 1919 – 17 Nov 1919	6.00
18 Nov 1919 – 22 Mar 1920	7.00
23 Mar 1920 – 9 Nov 1920	8.00
10 Nov 1920 – 16 Oct 1922	9.00
17 Oct 1922 – 12 Sep 1923	8.00
13 Sep 1923 – 27 Oct 1923	9.00
28 Oct 1923 – 29 Nov 1923	8.00
30 Nov 1923 – 5 Mar 1924	10.00
6 Mar 1924 – 14 Aug 1925	9.00
15 Aug 1925 – 29 Oct 1925	8.00
30 Oct 1925 – 22 Mar 1927	7.50
23 Mar 1927 – 10 Aug 1927	7.00
11 Aug 1927 – 24 Nov 1927	6.50
25 Nov 1927 – 7 Aug 1928	6.00
8 Aug 1928 – 15 Nov 1928	6.50
16 Nov 1928 – 28 Apr 1930	7.00
29 Apr 1930 – 26 Aug 1930	6.50
27 Aug 1930 – 30 Sep 1931	6.00
1 Oct 1931 – 11 Oct 1931	7.50
12 Oct 1931 – 25 Oct 1931	9.00
26 Oct 1931 – 12 Feb 1932	8.00
13 Feb 1932 – 18 Apr 1932	7.00
19 Apr 1932 – 31 Jan 1933	6.50
1 Feb 1933 – 2 Jun 1933	6.00
3 Jun 1933 – 4 Sep 1933	5.50
5 Sep 1933 – 19 Dec 1933	5.00
20 Dec 1933 – 2 Dec 1934	4.50
3 Dec 1934 – 5 Jun 1947	4.00
6 Jun 1947 – 14 Dec 1947	4.50
15 Dec 1947 – 5 Feb 1948	5.25
6 Feb 1948 – 31 Jan 1949	7.25
1 Feb 1949 – 30 Jun 1949	6.75
1 Jul 1949 – 2 Nov 1950	5.75
3 Nov 1950 – 15 Dec 1951	7.75
16 Dec 1951 – 30 Nov 1954	5.75
1 Dec 1954 – 18 Apr 1956	5.00
19 Apr 1956 – 30 Sep 1958	6.50
1 Oct 1958 – 31 Mar 1959	7.25
1 Apr 1959 – 29 Mar 1962	6.75
30 Mar 1962 – 27 Apr 1962	8.00
28 Apr 1962 – 31 May 1971	7.00
1 Jun 1971 – 31 Dec 1971	8.50
1 Jan 1972 – 30 Jun 1973	7.75
1 Jul 1973 – 30 Sep 1977	9.25
1 Oct 1977 – 30 Apr 1978	8.25
1 May 1978 – 31 Oct 1979	7.25
1 Nov 1979 – 31 Jan 1980	8.50
1 Feb 1980 – 31 May 1982	9.25
1 Jun 1982 – 30 Jun 1983	8.50
1 Jul 1983 – 31 Jan 1985	9.50
1 Feb 1985 – 31 Dec 1985	9.00
1 Jan 1986 – 28 Feb 1986	8.50
1 Mar 1986 – 18 May 1986	8.00
19 May 1986 – 15 May 1988	7.00
16 May 1988 – 31 Dec 1988	8.00
1 Jan 1989 – 31 Oct 1989	7.50
1 Nov 1989 – 30 Apr 1992	8.50
1 May 1992 – 31 Dec 1992	9.50
1 Jan 1993 – 14 Feb 1993	8.50
15 Feb 1993 – 16 May 1993	7.50
17 May 1993 – 14 Jul 1993	7.00
15 Jul 1993 – 15 Aug 1993	6.50
16 Aug 1993 – 30 Nov 1993	6.00
1 Dec 1993 – 31 Jan 1994	5.50
1 Feb 1994 – 31 Oct 1995	5.25
1 Nov 1995 – 14 Dec 1995	5.00
15 Dec 1995 – 31 Jan 1996	4.75
1 Feb 1996 – 15 Sep 1996	4.50
16 Sep 1996 – 14 Dec 1998	4.00
15 Dec 1998 – 30 Jun 1999	3.50
1 Jul 1999 – 31 Dec 1999	2.75
1 Jan 2000 – 30 Jun 2000	3.50
1 Jul 2000 – 31 Dec 2000	4.50
1 Jan 2001 – 30 Jun 2001	5.25
1 Jul 2001 – 31 Dec 2001	4.50
1 Jan 2002 – 30 Jun 2002	3.50
1 Jul 2002 – 31 Dec 2002	4.00
1 Jan 2003 – 30 Jun 2003	3.25
1 Jul 2003 – 31 Dec 2003	2.50
1 Jan 2004 – 30 Jun 2004	2.25
1 Jul 2004 – 31 Dec 2004	2.25
1 Jan 2005 – 30 Jun 2005	2.25
1 Jul 2005 – 31 Dec 2005	2.25
1 Jan 2006 – 30 Jun 2006	2.50
1 Jul 2006 – 31 Dec 2006	3.25
1 Jan 2007 – 30 Jun 2007	3.75
1 Jul 2007 – 31 Dec 2007	4.25
1 Jan 2008 – 30 Jun 2008	4.75
1 Jul 2008 – 31 Dec 2008	4.75
1 Jan 2009 – 30 Jun 2009	5.00
1 Jul 2009 – 31 Dec 2009	1.75
1 Jan 2010 – 30 Jun 2010	1.25
1 Jul 2010 – 31 Dec 2010	1.25
1 Jan 2011 – 30 Jun 2011	1.50
1 Jul 2011 – 31 Dec 2011	2.00
1 Jan 2012 – 30 Jun 2012	2.00

Report updated 3 Jan 2012

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