In April 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 21 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in April 2025. In contrast, Russia maintained a high inflation rate of 10.2 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Global interest rate (net - net), for interest rate swaps, total (all currencies), total (all currencies), total (all maturities), non-financial customers, All countries (total), Residents/Local, total (all ratings), total (all sectors), total (all methods), turnover - notional amounts (daily average)

From January 2022 to July 2024, a global trend emerged as almost all advanced and emerging economies increased their central bank policy rates. This widespread tightening of monetary policy was in response to inflationary pressures and economic challenges. However, a shift occurred in the latter half of 2024, with most countries beginning to lower their rates, potentially signaling a new phase in the global economic cycle and monetary policy approach.

United States US: Real Interest Rate data was reported at 2.208 % pa in 2016. This records an increase from the previous number of 2.152 % pa for 2015. United States US: Real Interest Rate data is updated yearly, averaging 3.162 % pa from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 8.720 % pa in 1981 and a record low of -1.280 % pa in 1975. United States US: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.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.; ;

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The benchmark interest rate In the Euro Area was last recorded at 2.15 percent. This dataset provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

From 2003 to 2025, the central banks of the United States, United Kingdom, and European Union exhibited remarkably similar interest rate patterns, reflecting shared global economic conditions. In the early 2000s, rates were initially low to stimulate growth, then increased as economies showed signs of overheating prior to 2008. The financial crisis that year prompted sharp rate cuts to near-zero levels, which persisted for an extended period to support economic recovery. The COVID-19 pandemic in 2020 led to further rate reductions to historic lows, aiming to mitigate economic fallout. However, surging inflation in 2022 triggered a dramatic policy shift, with the Federal Reserve, Bank of England, and European Central Bank significantly raising rates to curb price pressures. As inflation stabilized in late 2023 and early 2024, the ECB and Bank of England initiated rate cuts by mid-2024, and the Federal Reserve also implemented its first cut in three years, with forecasts suggesting a gradual decrease in all major interest rates between 2025 and 2026. Divergent approaches within the European Union While the ECB sets a benchmark rate for the Eurozone, individual EU countries have adopted diverse strategies to address their unique economic circumstances. For instance, Hungary set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by October 2024. In contrast, Sweden implemented more aggressive cuts, lowering its rate to 2.25 percent by February 2025, the lowest among EU members. These variations highlight the complex economic landscape that European central banks must navigate, balancing inflation control with economic growth support. Global context and future outlook The interest rate changes in major economies have had far-reaching effects on global financial markets. Government bond yields, for example, reflect these policy shifts and investor sentiment. As of December 2024, the United States had the highest 10-year government bond yield among developed economies at 4.59 percent, while Switzerland had the lowest at 0.27 percent. These rates serve as important benchmarks for borrowing costs and economic expectations worldwide.

United States US: Lending Interest Rate data was reported at 3.512 % pa in 2016. This records an increase from the previous number of 3.260 % pa for 2015. United States US: Lending Interest Rate data is updated yearly, averaging 6.922 % pa from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 18.870 % pa in 1981 and a record low of 3.250 % pa in 2014. United States US: Lending Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.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.; ;

The International Bank for Reconstruction and Development (IBRD) loans are public and publicly guaranteed debt extended by the World Bank Group. IBRD loans are made to, or guaranteed by, countries that are members of IBRD. IBRD may also make loans to IFC. IBRD lends at market rates. Data are in U.S. dollars calculated using historical rates. This dataset contains the latest available snapshot of the Statement of Loans. The World Bank complies with all sanctions applicable to World Bank transactions.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Euro Area (19 Countries) (IRSTCI01EZM156N) from Jan 1994 to May 2025 about interbank, overnight, Euro Area, Europe, interest rate, interest, and rate.

European Union central banks navigated a complex economic landscape between 2022 and 2025, with interest rates initially rising across member states. However, a pivotal shift occurred in late 2023 as most countries began lowering their rates, reflecting the delicate balance between controlling inflation and supporting economic growth. In the Euro area, the European Central Bank (ECB) led this trend by cutting interest rates from 4.5 percent to 3.15 percent in 2024, implementing four strategic rate reductions throughout the year. This approach was nearly universally adopted, with Poland being the sole EU country not reducing its rates during this period. Global context and policy shifts The interest rate changes in the EU mirror similar movements in other major economies. The United States, United Kingdom, and European Union central banks followed remarkably similar patterns from 2003 to 2024, responding to shared global economic conditions. After maintaining near-zero rates following the 2008 financial crisis and the COVID-19 pandemic, these institutions sharply raised rates in 2022 to combat surging inflation. By mid-2024, the European Central Bank and Bank of England initiated rate cuts, with the Federal Reserve following suit. Varied approaches within the EU Despite the overall trend, individual EU countries have adopted diverse strategies. Hungary, for instance, set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by September 2024. In contrast, Sweden implemented the most aggressive cuts, lowering its rate to 2.25 percent by February 2025, the lowest among EU members. These divergent approaches highlight the unique economic challenges faced by each country and the flexibility required in monetary policy to address specific national circumstances.

Graph and download economic data for Interest Rates, Discount Rate for Turkey (INTDSRTRM193N) from Jan 1964 to Apr 2025 about Turkey, interest rate, interest, and rate.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for Euro Area (19 Countries) (IR3TIB01EZM156N) from Jan 1994 to Apr 2025 about interbank, Euro Area, 3-month, Europe, yield, interest rate, interest, and rate.

Graph and download economic data for Interest Rates, Discount Rate for United States (INTDSRUSM193N) from Jan 1950 to Aug 2021 about discount, interest rate, interest, rate, and USA.

Graph and download economic data for 10-Year Real Interest Rate (REAINTRATREARAT10Y) from Jan 1982 to Jun 2025 about 10-year, interest rate, interest, real, rate, and USA.

The benchmark interest rate in Indonesia was last recorded at 5.50 percent. This dataset provides - Indonesia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

BI: Real Interest Rate data was reported at -0.131 % pa in 2023. This records an increase from the previous number of -5.543 % pa for 2022. BI: Real Interest Rate data is updated yearly, averaging 4.875 % pa from Dec 1978 (Median) to 2023, with 44 observations. The data reached an all-time high of 19.229 % pa in 1981 and a record low of -16.679 % pa in 2000. BI: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Burundi – Table BI.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.;;

Benin BJ: Interest Rate Spread data was reported at 0.950 % pa in 2021. This records a decrease from the previous number of 1.442 % pa for 2020. Benin BJ: Interest Rate Spread data is updated yearly, averaging -1.920 % pa from Dec 2005 (Median) to 2021, with 17 observations. The data reached an all-time high of 1.667 % pa in 2017 and a record low of -3.602 % pa in 2009. Benin BJ: Interest Rate Spread data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Benin – Table BJ.World Bank.WDI: Interest Rates. Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.;International Monetary Fund, International Financial Statistics and data files.;Median;

Since 2010, long-term interest rates generally declined across each of the ***** countries considered until 2021, but rose thereafter. In 2024, the long-term interest rate in the United States amounted to **** percent. That year, the long-term interest rate in Germany stood at **** percent.