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.

Real interest rate (%) by country from 1960-2022 from the World Bank. International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.

The average for 2024 based on 4 countries was 8.92 percent. The highest value was in Mozambique: 15.86 percent and the lowest value was in Sierra Leone: 0.36 percent. The indicator is available from 1961 to 2024. Below is a chart for all countries where data are available.

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.; ;

Abstract

The Survey on Interest Rate Controls 2020 was conducted as a World Bank Group study on interest rate controls (IRCs) in lending and deposit markets around the world. The study aims to identify the different types of formal (or de jure) controls, the countries that apply then, how they implement them, and the reasons for doing so. The objective of the study is to advance knowledge on this topic by providing an evidence base for investigating the impact of IRCs on economic outcomes.

The survey investigates present IRCs in each surveyed country, the reasons why they have been applied, the framework and resources associated with their application and the details as to their level and functioning. The focus is on legal forms of control (i.e. codified into law) as opposed to de facto controls. The new database on interest rate controls, a popular form of financial repression is based on a survey of 108 countries, representing 88 percent of global gross domestic product. The interest rate controls presented in this dataset were in effect in 2019.

Geographic coverage

Global Survey, covering 108 countries, representing 88 percent of global GDP.

Analysis unit

Regulation at the national level.

Universe

Banking supervisors and Local Banking Associations.

Kind of data

Sample survey data [ssd]

Mode of data collection

Mail Questionnaire [mail]

Research instrument

Bank supervisors and banking associations were provided with a standard excel file with five parts. The survey was structured in five parts, each placed in a different excel sheet. Part A: Introduction. Countries with no IRCs in place were asked to only answer this sheet and leave the rest blank. Part B: Presented the definitions of controls, institutions, products and additional aspects that will be covered in the survey. Part C: Introduced a set of qualitative questions to describe the IRCs in place. Part D: Displayed a set of tables to quantitatively describe the IRCs in place. Part E: Laid out the final set of questions, covering sanctions and control mechanisms that support the IRCs' enforcement. The questionnaire is provided in the Documentation section in pdf and excel.

In September 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 September 2025, Russia maintained the highest interest rate at 17 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 -0.3 percent in September 2025. In contrast, Russia maintained a high inflation rate of 8 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.

Real interest rate (%) in India was reported at 2.5213 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Real interest rate - actual values, historical data, forecasts and projections were sourced from the World Bank on October of 2025.

Lending interest rate (%) in Burkina Faso was reported at 6.25 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Burkina Faso - Lending interest rate - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

Iraq IQ: Real Interest Rate data was reported at 53.543 % pa in 2015. This records an increase from the previous number of 13.392 % pa for 2014. Iraq IQ: Real Interest Rate data is updated yearly, averaging 0.677 % pa from Dec 2004 (Median) to 2015, with 12 observations. The data reached an all-time high of 53.543 % pa in 2015 and a record low of -14.278 % pa in 2005. Iraq IQ: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iraq – Table IQ.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.; ;

TR: Deposit Interest Rate data was reported at 15.288 % pa in 2017. This records an increase from the previous number of 14.610 % pa for 2016. TR: Deposit Interest Rate data is updated yearly, averaging 40.583 % pa from Dec 1979 (Median) to 2017, with 39 observations. The data reached an all-time high of 87.791 % pa in 1994 and a record low of 7.333 % pa in 1979. TR: Deposit Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Turkey – Table TR.World Bank.WDI: Interest Rates. Deposit interest rate is the 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.; ;

The average for 2024 based on 73 countries was 4.99 percent. The highest value was in Brazil: 35.09 percent and the lowest value was in Argentina: -47.48 percent. The indicator is available from 1961 to 2024. Below is a chart for all countries where data are available.

Real interest rate (%) in Namibia was reported at 7.4639 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Namibia - Real interest rate - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

View yearly updates and historical trends for Russia Real Interest Rate. Source: World Bank. Track economic data with YCharts analytics.

Philippines PH: Real Interest Rate data was reported at 3.232 % pa in 2017. This records a decrease from the previous number of 3.877 % pa for 2016. Philippines PH: Real Interest Rate data is updated yearly, averaging 4.691 % pa from Dec 1976 (Median) to 2017, with 42 observations. The data reached an all-time high of 14.163 % pa in 1986 and a record low of -16.396 % pa in 1984. Philippines PH: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Philippines – Table PH.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 average for 2023 based on 88 countries was 14.12 percent. The highest value was in Zimbabwe: 170.29 percent and the lowest value was in Switzerland: 2.86 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

From January 2022 to October 2025, 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 2025, with most countries beginning to lower their rates, signaling a new phase in the global economic cycle and monetary policy approach. Since September 2023, ****** has consistently held the highest interest rate among the observed countries.

Vietnam VN: Real Interest Rate data was reported at 3.145 % pa in 2017. This records a decrease from the previous number of 5.785 % pa for 2016. Vietnam VN: Real Interest Rate data is updated yearly, averaging 4.167 % pa from Dec 1993 (Median) to 2017, with 23 observations. The data reached an all-time high of 12.577 % pa in 1993 and a record low of -6.553 % pa in 2005. Vietnam VN: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.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.; ;

Lending interest rate (%) in Jordan was reported at 8.4767 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Jordan - Lending interest rate - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

Israel: Interest rates on bank credit to the private sector: The latest value from 2022 is 2.96 percent, a decline from 3.1 percent in 2021. In comparison, the world average is 11.91 percent, based on data from 94 countries. Historically, the average for Israel from 2013 to 2022 is 3.51 percent. The minimum value, 2.96 percent, was reached in 2022 while the maximum of 4.42 percent was recorded in 2013.

View yearly updates and historical trends for Tunisia Deposit Interest Rate. Source: World Bank. Track economic data with YCharts analytics.