Rates show the level. Central Bank Time reveals the sequence behind it — when policy was decided, when it took effect, how long the setting has endured, and where the world’s monetary clocks begin to diverge.
A committee can announce policy on one day and make the operational setting effective later. Central Bank Time keeps both timestamps visible so comparisons do not silently mix them.
The Fed publishes a target range; the ECB publishes three key rates; the BoJ uses an overnight call-rate guideline. The interface preserves those institutional differences instead of forcing false comparability.
A long hold can follow tightening, easing or a low-rate regime. The same numerical rate can therefore represent a very different monetary position depending on the path that produced it.