As of September 2025, the average interest rate on ordinary deposits of financial institutions in Japan stood at around **** percent per annum. In the past years, the average interest rate on ordinary deposits had been close to zero percent. It rose to **** percent after the central bank policy rate hike in March 2024.

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. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged until September 2025, when another cut set the rate at 4.22 percent. In October 2025, the rate was further reduced to 4.09 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.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for Russia (IR3TIB01RUM156N) from Jan 1997 to Feb 2022 about Russia, interbank, 3-month, yield, interest rate, interest, and rate.

Key information about United States Short Term Interest Rate

• United States Short Term Interest Rate: Month End: Treasury Bills: 3 Months was reported at 4.20 % pa in Feb 2025, compared with 4.20 % pa in the previous month.
• US Short Term Interest Rate data is updated monthly, available from Jan 1954 to Feb 2025.
• The data reached an all-time high of 15.52 % pa in Aug 1981 and a record low of -0.01 % pa in Sep 2015.
• Short Term Interest Rate is reported by reported by Federal Reserve Board.

• In the latest reports, US Treasury Notes Yield: Constant Maturity: Nominal: 10 Years was reported at 4.45 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Effective Federal Funds Rate) was set at 4.33 % pa in Feb 2025.

The benchmark interest rate in the United States was last recorded at 4 percent. This dataset provides the latest reported value for - United States Fed Funds 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: Certificates of Deposit: Total for Japan (IR3TCD01JPQ156N) from Q3 1979 to Q1 2022 about CD, 3-month, Japan, yield, interest rate, interest, and rate.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Eurodollar Deposits: Total for Switzerland (IR3TED01CHM156N) from Jan 1974 to Apr 2022 about Switzerland, 3-month, deposits, yield, interest rate, interest, and rate.

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

Monthly and long-term United States Interest Rate data: historical series and analyst forecasts curated by FocusEconomics.

The inflation rate in the United States declined significantly between June 2022 and September 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at *** percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at **** percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By September 2025, the rate dropped to **** percent, signaling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was ****** percent, up from ****** a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

Graph and download economic data for Interest Rates: Other 3-Month Rates: Bank Deposit Rates: Total for Indonesia (IR3OBD01IDA156N) from 1998 to 2022 about Indonesia, 3-month, deposits, interest rate, banks, depository institutions, interest, and rate.

Month Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 Jun 2022 Jul 2022 Aug 2022 Sep 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023 Jul 2023 Aug 2023 Sep 2023 Oct 2023 Nov 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024 May 2024 Jun 2024 Jul 2024 Aug 2024 Sep 2024 Oct 2024 Nov 2024 Dec 2024 Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Sep 2025 Oct 2025 Avg Rate 3.20% 3.50% 3.86% 4.31% 4.91% 5.23% 5.46% 5.42% 5.45% 5.99% 6.52% 6.43% 6.25% 6.08% 6.28% 6.30% 6.27% 6.42% 6.57% 6.71% 6.90% 7.08% 7.29% 7.02% 6.58% 6.46% 6.61% 6.67% 6.85% 6.79% 6.70% 6.47% 6.15% 5.98% 6.27% 6.44% 6.53% 6.61% 6.48% 6.40% 6.48% 6.57% 6.53% 6.43% 6.23% 6.14%

View weekly updates and historical trends for 30 Year Mortgage Rate. from United States. Source: Freddie Mac. Track economic data with YCharts analytics.

Graph and download economic data for 1-Year Real Interest Rate (REAINTRATREARAT1YE) from Jan 1982 to Oct 2025 about 1-year, interest rate, interest, real, rate, and USA.

European Union Key Interest Rate: Month End: Marginal Lending Facility data was reported at 2.400 % pa in Nov 2025. This stayed constant from the previous number of 2.400 % pa for Oct 2025. European Union Key Interest Rate: Month End: Marginal Lending Facility data is updated monthly, averaging 1.750 % pa from Jan 1999 (Median) to Nov 2025, with 323 observations. The data reached an all-time high of 5.750 % pa in Apr 2001 and a record low of 0.250 % pa in Jun 2022. European Union Key Interest Rate: Month End: Marginal Lending Facility data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s France – Table FR.M: Key Interest Rates: European Central Bank.

August 2024 marked a significant shift in the UK's monetary policy, as it saw the first reduction in the official bank base interest rate since August 2023. This change came after a period of consistent rate hikes that began in late 2021. In a bid to minimize the economic effects of the COVID-19 pandemic, the Bank of England cut the official bank base rate in March 2020 to a record low of *** percent. This historic low came just one week after the Bank of England cut rates from **** percent to **** percent in a bid to prevent mass job cuts in the United Kingdom. It remained at *** percent until December 2021 and was increased to one percent in May 2022 and to **** percent in October 2022. After that, the bank rate increased almost on a monthly basis, reaching **** percent in August 2023. It wasn't until August 2024 that the first rate decrease since the previous year occurred, signaling a potential shift in monetary policy. Why do central banks adjust interest rates? Central banks, including the Bank of England, adjust interest rates to manage economic stability and control inflation. Their strategies involve a delicate balance between two main approaches. When central banks raise interest rates, their goal is to cool down an overheated economy. Higher rates curb excessive spending and borrowing, which helps to prevent runaway inflation. This approach is typically used when the economy is growing too quickly or when inflation is rising above desired levels. Conversely, when central banks lower interest rates, they aim to encourage borrowing and investment. This strategy is employed to stimulate economic growth during periods of slowdown or recession. Lower rates make it cheaper for businesses and individuals to borrow money, which can lead to increased spending and investment. This dual approach allows central banks to maintain a balance between promoting growth and controlling inflation, ensuring long-term economic stability. Additionally, adjusting interest rates can influence currency values, impacting international trade and investment flows, further underscoring their critical role in a nation's economic health. Recent interest rate trends Between 2021 and 2025, most advanced and emerging economies experienced a period of regular interest rate hikes. This trend was driven by several factors, including persistent supply chain disruptions, high energy prices, and robust demand pressures. These elements combined to create significant inflationary trends, prompting central banks to raise rates to temper spending and borrowing. However, in 2024, a shift began to occur in global monetary policy. The European Central Bank (ECB) was among the first major central banks to reverse this trend by cutting interest rates. This move signaled a change in approach aimed at addressing growing economic slowdowns and supporting growth.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Treasury Securities: Total for Iceland (ISLIR3TTS01STQ) from Q1 1998 to Q3 2022 about Iceland, 3-month, yield, securities, interest rate, interest, and rate.

The benchmark interest rate in Russia was last recorded at 16.50 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Monthly and long-term Argentina Interest Rate data: historical series and analyst forecasts curated by FocusEconomics.

View monthly updates and historical trends for US Long-Term Interest Rates. from United States. Source: Robert Shiller. Track economic data with YCharts a…