Historical dataset of the daily level of the federal funds rate back to 1954. The fed funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis. The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target rate.

The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March, and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year, before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. The first rate cut in 2025 then set the rate at 4.33 percent. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate - from 1.58 percent in February 2020 to 0.05 percent by April - mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

Japan JP: Real Interest Rate data was reported at 0.769 % pa in 2016. This records an increase from the previous number of -0.978 % pa for 2015. Japan JP: Real Interest Rate data is updated yearly, averaging 2.802 % pa from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 6.125 % pa in 1983 and a record low of -12.450 % pa in 1970. Japan JP: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Japan – Table JP.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.; ;

Long term dataset showing the 30 year fixed rate mortgage average in the United States since 1971.

The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Interest Rates, Discount Rate for Japan (INTDSRJPM193N) from Jan 1953 to Apr 2017 about Japan, interest rate, interest, and rate.

Nigeria NG: Real Interest Rate data was reported at 5.817 % pa in 2017. This records a decrease from the previous number of 6.685 % pa for 2016. Nigeria NG: Real Interest Rate data is updated yearly, averaging 1.569 % pa from Dec 1970 (Median) to 2017, with 47 observations. The data reached an all-time high of 25.282 % pa in 1998 and a record low of -43.573 % pa in 1995. Nigeria NG: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.; ;

The benchmark interest rate in Ecuador was last recorded at 9.33 percent. This dataset provides the latest reported value for - Ecuador Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for France (IR3TIB01FRM156N) from Jan 1970 to Feb 2025 about interbank, France, 3-month, yield, interest rate, interest, and rate.

The benchmark interest rate in Pakistan was last recorded at 12 percent. This dataset provides - Pakistan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria NG: Lending Interest Rate data was reported at 17.580 % pa in 2017. This records an increase from the previous number of 16.867 % pa for 2016. Nigeria NG: Lending Interest Rate data is updated yearly, averaging 16.849 % pa from Dec 1970 (Median) to 2017, with 47 observations. The data reached an all-time high of 31.650 % pa in 1993 and a record low of 6.000 % pa in 1977. Nigeria NG: Lending Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Interest Rates. Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

Key information about European Union Long Term Interest Rate

• European Union Government Bond Yield: Monthly Average: Euro: 10 Years was reported at 2.99 % pa in Feb 2025, compared with 3.09 % pa in the previous month.
• EU Long Term Interest Rate data is updated monthly, available from Jan 1970 to Feb 2025.
• The data reached an all-time high of 15.44 % pa in Sep 1981 and a record low of -0.09 % pa in Dec 2020.
• Long Term Interest Rate is reported by reported by European Central Bank.

• In the latest reports, EU Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021.
• The cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.90 % pa in Feb 2025.
• EU Exchange Rate against USD averaged 0.92 (USD/EUR) in Jun 2023.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for New Zealand (IRLTLT01NZM156N) from Jan 1970 to Feb 2025 about New Zealand, long-term, 10-year, bonds, yield, government, interest rate, interest, and rate.

Key information about India Long Term Interest Rate

• India Government Securities Yield: 10 Years was reported at 6.71 % pa in Jan 2025, compared with 6.78 % pa in the previous month.
• India Long Term Interest Rate data is updated monthly, available from May 1996 to Jan 2025.
• The data reached an all-time high of 13.96 % pa in May 1996 and a record low of 5.11 % pa in Oct 2003.
• Long Term Interest Rate is reported by reported by Reserve Bank of India.

• In the latest reports, India Short Term Interest Rate: Month End: India: MIBOR: 3 Months was reported at 7.19 % pa in Jun 2023.
• The cash rate (Policy Rate: Month End: Repo Rate) was set at 6.50 % pa in Jan 2025.
• India Exchange Rate against USD averaged 82.23 (USD/INR) in Jun 2023.

Turkmenistan TM: External Debt: DOD: Stocks: Variable Rate data was reported at 143.055 USD mn in 2016. This records an increase from the previous number of 136.000 USD mn for 2015. Turkmenistan TM: External Debt: DOD: Stocks: Variable Rate data is updated yearly, averaging 110.903 USD mn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 1.758 USD bn in 1999 and a record low of 0.000 USD mn in 1992. Turkmenistan TM: External Debt: DOD: Stocks: Variable Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Turkmenistan – Table TM.World Bank: External Debt: Debt Outstanding, Debt Ratio and Debt Service. Variable interest rate is long-term external debt with interest rates that float with movements in a key market rate; for example, the London interbank offered rate (LIBOR) or the U.S. prime rate. This item conveys information about the borrower's exposure to changes in international interest rates. Long-term external debt is defined as debt that has an original or extended maturity of more than one year and that is owed to nonresidents by residents of an economy and repayable in currency, goods, or services. Data are in current U.S. dollars.; ; World Bank, International Debt Statistics.; Sum;

Argentina AR: External Debt: Average Interest on New External Debt Commitments: Private data was reported at 8.253 % in 2016. This records an increase from the previous number of 4.061 % for 2015. Argentina AR: External Debt: Average Interest on New External Debt Commitments: Private data is updated yearly, averaging 8.100 % from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 14.306 % in 1980 and a record low of 0.000 % in 2011. Argentina AR: External Debt: Average Interest on New External Debt Commitments: Private data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Argentina – Table AR.World Bank.WDI: External Debt: Terms and Undisbursed Debt. Interest represents the average interest rate on all new public and publicly guaranteed loans contracted during the year. To obtain the average, the interest rates for all public and publicly guaranteed loans have been weighted by the amounts of the loans. Debt from private creditors include bonds that are either publicly issued or privately placed; commercial bank loans from private banks and other private financial institutions; and other private credits from manufacturers, exporters, and other suppliers of goods, and bank credits covered by a guarantee of an export credit agency.; ; World Bank, International Debt Statistics.; Weighted average;

In 2023, the yield on 10-year U.S. treasury securities increased to 3.96 percent, up from 2.95 percent in the previous year. 2020 recorded the lowest value in the period under consideration, and well below the longer-term average. In 1980 the yield was 11.43 percent. What are treasury securities? The United States government consistently has a budget deficit, and it finances this spending with debt issued by the Treasury Department. These treasury securities are attractive investments because most investors believe that the United States Treasury Department will never default. For this reason, many investors of different varieties hold these securities. Country differences The markets consider treasury securities to be low-risk, as they are secured by governments. Different countries differ in level of indebtment, value of investments, stability of currency, GDP growth, inflation, etc. These factors are the reasons why yields on government bonds differ from country to country. The yield shows how much a given government has to pay to the investors for the money that it borrows.

Graph and download economic data for 6-Month Prime Commercial Paper, Average Dealer Offering Rate, Quoted on a Discount Basis (DISCONTINUED) (H0RIFSPPCM06NB) from 1970-01-02 to 1997-08-29 about discount, prime, 6-month, dealers, commercial paper, average, commercial, interest rate, interest, rate, and USA.

This data set presents annual data on public sector deficits, the monetary sector, and the financial sector for a large and varying sample of member countries of the OECD and developing countries. It includes an in-depth examination of eight countries Argentina, Chile, Colombia, Ivory Coast, Ghana, Morocco, Pakistan, and Zimbabwe. These cases are analyzed within a comprehensive theoretical framework elaborated for the study and in conjunction with cross-country data from a larger set. It includes the following variables and periods: Consolidated Public Sector Surplus or Deficit, 1970-90 Seignorage, 1965-89 Inflation Rates, 1965-90 Real Interest Rates, 1965-89 Taxes from Financial Repression in Ten Countries, 1980-89

Personal savings in the United States reached a value of 911 billion U.S. dollars in 2023, which is significantly higher than in 2022. Personal savings peaked in 2020 at nearly 2.7 trillion U.S. dollars. Those figures remained very high until 2021. The excess savings during the COVID-19 pandemic in the U.S. and other countries were the main reason for that increase, as the measures implemented to contain the spread of the virus had an impact on consumer spending.

Saving before and after the 2008 financial crisisDuring the periods of growth and certain economic stability in the pre-2008 crisis period, there were falling savings rates. People were confident the good times would stay and felt comfortable borrowing money. Credit was easily accessible and widely available, which encouraged people to spend money. However, in times of austerity, people generally tend to their private savings due to a higher economic uncertainty. That was also the case in the wake of the 2008 financial crisis. Savings and inflationThe economic climate of high inflation and rising Federal Reserve interest rates in the U.S. made it increasingly difficult to save money in 2022. Not only does inflation affect the ability of people to save, but reversely, consumer behavior also affects inflation. On the one hand, prices can increase when the production costs are higher. That can be the case, for example, when the price of West Texas Intermediate crude oil or other raw materials increases. On the other hand, when people have a lot of savings and the economy is strong, high levels of consumer demand can also increase the final price of products.