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A brief review of the main interest rates of countries - hard currency owners and the procedure of making rate decisions.

USA
Great Britain
European Union
Japan
Switzerland
Canada
Australia
New Zealand


USA.
Federal Fund Rate (0.00-0.25%).
The most important interest rate. It is the rate that depositary institutions charge each other for overnight loans.
Discount Rate (0.50%).
The interest rate at which the Fed charges commercial banks for emergency liquidity purposes.

The interest rate decisions are made by the Federal Open Market Committee (FOMC) of the Federal Reserve Bank (FED) 8 times a year. The first and the fourth meetings are two day meetings (Tuesday and Wednesday). The rest meetings last for one day (Tuesday). The result of the meeting is announced the same day at 14:15 (New York).
Meeting schedule for 2009: 
27.01.2009
17.03.2009
28.04.2009
23.06.2009
11.08.2009
22.09.2009
03.11.2009
15.12.2009

Great Britain.
Repo Rate (2.00%).
The British Central Banks main interest rate. The rate at which the Bank of England (BoE) charges for short-term repurchasement agreements, where the borrower sells securities with a commitment to repurchase them at the same rate with a specified interest rate. The interest rate decisions are made by the Monetary Policy Commitee (MPC) on monthly two day meetings (Wednesday and Thursday). The expections are very rare. The result of the meeting is announced at the last day of the meeting at 12:00 (GMT).
Meeting schedule for 2009: 
07.01.2009(-0,5)
04.02.2009(-0,5)
04.03.2009
08.04.2009
06.05.2009
03.06.2009
08.07.2009
05.08.2009
05.09.2009
07.10.2009
04.11.2009
09.12.2009

European Union.
Refinancing Tender Rate (2.50%).
The European Central Banks (ECB) main interest rate. This rate is the lowest possible rate, achieved at the ECB tender. The tender is a procedure in which the central bank provides liquidity to or withdraws liquidity from the market on the basis of bids submitted by counterparties in competition with each other. The most competitive bids are satisfied with priority until the total amount of liquidity to be provided or withdrawn by the central bank is exhausted. The tender takes place every two weeks.
Deposit Rate (2.00%).
Minimal overnight interest rate. Provides a lower bound or floor for the daily European Overnight Interbank Average market rate.
Marginal Lending Rate (3.00%).
Provides an upper bound or floor for the daily European Overnight Interbank Average (EONIA) market rate.

The interest rate decisions are made by the European Central Bank Governing Council on meetings, schedulded every two weeks, usualy thursdays (expections are very rare). The result of the meeting is announced the same day at 15:45 (MSK).
The schedule for European Central Bank Governing Council for 2009.
15.01.2009(-0,5)
05.02.2009
05.03.2009
02.04.2009
07.05.2009
04.06.2009
02.07.2009
06.08.2009
03.09.2009
08.10.2009
05.11.2009
03.12.2009


Japan.
Overnight Call Rate Target (0.10%).
The main interest rate of Japan. Shows the level, which the Bank of Japan (BoJ) wants to see on the short-term deposits market.
Discount Rate (0.30%).
The interest rate at which the BoJ charges commercial banks for emergency liquidity purposes.
The interest rate decisions are made by the Policy Board of BoJ on its Monetary Policy Meetings. The result of the meeting is announced at the same day.
The schedule for Bank of Japan Governing Council for 2009.
22.01.2009
19.02.2009
17.03.2009
07.04.2009
30.04.2009
22.05.2009
16.06.2009
15.07.2009
11.08.2009
17.09.2009
14.10.2009
30.10.2009
20.10.2009
18.10.2009

Switzerland.
3Month LIBOR Rate (0.00% - 1.00%).
The main Swiss interest rate.
TheSwiss National Bank (SNB) made a decision to maintain the 3-month LIBOR rate within 1%. (The LIBOR is the rate offered by London banks for deposits by other banks in the eurocurrency markets (1-12 months). It is calculated by the British Bankers Association and is announced daily at 11 o'clock in London. The average of the last ten quotations of the seller).
The interest rate decisions are made by the Monetary Policy Meetings that are held quarterly. The result of the meeting is announced the same day at a press conferrence.
Schedule of press-conferenses for 2009:
12.03.2009
18.06.2009
17.09.2009
10.12.2009

Canada.
Overnight Rate Target (1.50%).
Main Canadian interest rate. Shows the level, which the Bank of Canada wants to see on the short-term deposits market. To control the rate levels, BoC sets a 50 basis point target zone. The average rate within this band is the daily target for the overnight rate.
Bank Rate (1.75%).
The interest rate at which the BoC charges commercial banks for emergency liquidity purposes. This is the highest rate of the operating band.
The interest rate decisions are made by the Bank of Canada Governing Council meetings. The result of the meeting is announced at the same day.
Schedule of meetings for Bank of Canada Governing Council for 2009:
20.01.2009(-0,5)
03.03.2009
21.04.2009
04.06.2009
21.07.2009
10.09.2009
20.10.2009
08.12.2009

Australia.
Cash Rate (4.25%).
Main interest rate of Australia. The Reserve Bank of Australia (RBA) maintains this rate to control money supply.
The interest rate decisions are made by the RBA Policy Board. The result of the meeting is announced at the same day.
Scedule of meeting for Reserve Bank of Australia Governing Council for 2009:
03.02.2009(-1,00)
03.03.2009
07.04.2009
05.05.2009
02.06.2009
07.07.2009
04.08.2009
01.09.2009
06.10.2009
03.11.2009
01.12.2009

New Zealand.
Official Cash Rate (5.00%).
Main interest rate of New Zealand. The Reserve Bank of New Zealand (RBNZ) sets this rate as the average between its short-term credit rates (higher than 0.25%), and its deposit rates (lower than 0.25%).
The interest rate decisions are made by the Reserve Bank of New Zealand Governing Council meetings. The result of the meeting is announced at the same day.
The Reserve Bank of New Zealand Governing Council meetings schudule for 2009: 
29.01.2009(-1,50)
12.03.2009
30.04.2009
11.06.2009
30.07.2009
10.09.2009
29.10.2009
10.12.2009