This dataset tracks the policy interest rates of the world’s top 8 central banks from 1980 to 2025, offering a unique longitudinal view into global monetary trends. Central banks included are: the Federal Reserve (USA), European Central Bank (ECB), Bank of England (BoE), Bank of Japan (BoJ), Bank of Canada (BoC), Reserve Bank of Australia (RBA), Swiss National Bank (SNB), and Sveriges Riksbank (Sweden). Note: The ECB's data begins in 1999, aligning with its establishment.

Ideal for time-series analysis, forecasting, and macroeconomic research, this dataset can be used to study inflation targeting regimes, financial crises, and policy divergence/convergence across developed economies.

Real interest rates describe the growth in the real value of the interest on a loan or deposit, adjusted for inflation. Nominal interest rates on the other hand show us the raw interest rate, which is unadjusted for inflation. If the inflation rate in a certain country were zero percent, the real and nominal interest rates would be the same number. As inflation reduces the real value of a loan, however, a positive inflation rate will mean that the nominal interest rate is more likely to be greater than the real interest rate. We can see this in the recent inflationary episode which has taken place in the wake of the Coronavirus pandemic, with nominal interest rates rising over the course of 2022, but still lagging far behind the rate of inflation, meaning these rate rises register as smaller increases in the real interest 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.

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.

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 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-11-26 about 15-year, mortgage, fixed, interest rate, interest, rate, and USA.

Graph and download economic data for Bank Prime Loan Rate Changes: Historical Dates of Changes and Rates (PRIME) from 1955-08-04 to 2025-10-30 about prime, loans, interest rate, banks, depository institutions, interest, rate, and USA.

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.

Zimbabwe ZW: Real Interest Rate data was reported at 5.728 % pa in 2016. This records a decrease from the previous number of 7.576 % pa for 2015. Zimbabwe ZW: Real Interest Rate data is updated yearly, averaging 34.675 % pa from Dec 1980 (Median) to 2016, with 32 observations. The data reached an all-time high of 572.936 % pa in 2007 and a record low of 4.257 % pa in 1980. Zimbabwe ZW: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Zimbabwe – Table ZW.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 Volcker Shock was a period of historically high interest rates precipitated by Federal Reserve Chairperson Paul Volcker's decision to raise the central bank's key interest rate, the Fed funds effective rate, during the first three years of his term. Volcker was appointed chairperson of the Fed in August 1979 by President Jimmy Carter, as replacement for William Miller, who Carter had made his treasury secretary. Volcker was one of the most hawkish (supportive of tighter monetary policy to stem inflation) members of the Federal Reserve's committee, and quickly set about changing the course of monetary policy in the U.S. in order to quell inflation. The Volcker Shock is remembered for bringing an end to over a decade of high inflation in the United States, prompting a deep recession and high unemployment, and for spurring on debt defaults among developing countries in Latin America who had borrowed in U.S. dollars.

Monetary tightening and the recessions of the early '80s

Beginning in October 1979, Volcker's Fed tightened monetary policy by raising interest rates. This decision had the effect of depressing demand and slowing down the U.S. economy, as credit became more expensive for households and businesses. The Fed funds rate, the key overnight rate at which banks lend their excess reserves to each other, rose as high as 17.6 percent in early 1980. The rate was allowed to fall back below 10 percent following this first peak, however, due to worries that inflation was not falling fast enough, a second cycle of monetary tightening was embarked upon starting in August of 1980. The rate would reach its all-time peak in June of 1981, at 19.1 percent. The second recession sparked by these hikes was far deeper than the 1980 recession, with unemployment peaking at 10.8 percent in December 1980, the highest level since The Great Depression. This recession would drive inflation to a low point during Volcker's terms of 2.5 percent in August 1983.

The legacy of the Volcker Shock

By the end of Volcker's terms as Fed Chair, inflation was at a manageable rate of around four percent, while unemployment had fallen under six percent, as the economy grew and business confidence returned. While supporters of Volcker's actions point to these numbers as proof of the efficacy of his actions, critics have claimed that there were less harmful ways that inflation could have been brought under control. The recessions of the early 1980s are cited as accelerating deindustrialization in the U.S., as manufacturing jobs lost in 'rust belt' states such as Michigan, Ohio, and Pennsylvania never returned during the years of recovery. The Volcker Shock was also a driving factor behind the Latin American debt crises of the 1980s, as governments in the region defaulted on debts which they had incurred in U.S. dollars. Debates about the validity of using interest rate hikes to get inflation under control have recently re-emerged due to the inflationary pressures facing the U.S. following the Coronavirus pandemic and the Federal Reserve's subsequent decision to embark on a course of monetary tightening.

Uganda: Interest rates on bank credit to the private sector: The latest value from 2018 is 19.85 percent, a decline from 21.28 percent in 2017. In comparison, the world average is 11.41 percent, based on data from 116 countries. Historically, the average for Uganda from 1980 to 2018 is 23.29 percent. The minimum value, 12 percent, was reached in 1980 while the maximum of 40 percent was recorded in 1989.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Certificates of Deposit: Total for Japan (IR3TCD01JPA156N) from 1980 to 2021 about CD, 3-month, Japan, yield, interest rate, interest, and rate.

Deposit Interest Rate in Tonga increased to 1.57 percent in 2024 from 1.54 percent in 2023. This dataset includes a chart with historical data for Deposit Interest Rate in Tonga.

United States CSI: Expected Interest Rates: Next Yr: Go Down data was reported at 4.000 % in May 2018. This records a decrease from the previous number of 6.000 % for Apr 2018. United States CSI: Expected Interest Rates: Next Yr: Go Down data is updated monthly, averaging 11.000 % from Jan 1978 (Median) to May 2018, with 485 observations. The data reached an all-time high of 54.000 % in Jun 1980 and a record low of 3.000 % in May 2014. United States CSI: Expected Interest Rates: Next Yr: Go Down data remains active status in CEIC and is reported by University of Michigan. The data is categorized under Global Database’s USA – Table US.H030: Consumer Sentiment Index: Unemployment, Interest Rates, Prices and Government Expectations. The question was: No one can say for sure, but what do you think will happen to interest rates for borrowing money during the next 12 months -- will they go up, stay the same, or go down?

This data set contains Pakistan's interest rate (monthly from the year 2011 to 2019) statistics as collected and reported by State Bank of Pakistan.

Deposit Interest Rate in Grenada increased to 0.96 percent in 2024 from 0.90 percent in 2023. This dataset includes a chart with historical data for Deposit Interest Rate in Grenada.

Deposit Interest Rate in Bolivia decreased to 3.18 percent in 2023 from 3.21 percent in 2022. This dataset includes a chart with historical data for Deposit Interest Rate in Bolivia.

Key information about United States Policy Rate

• United States cash rate (Policy Rate: Month End: Effective Federal Funds Rate) was set at 3.86 % pa in Oct 2025, compared with 4.09 % pa in the previous Sep 2025.
• US Policy Rate averaged 8.29 % pa and is updated monthly, available from Jul 1954 to Oct 2025.
• The data reached an all-time high of 22.00 % pa in Dec 1980 and a record low of 0.04 % pa in Dec 2011.

• In the latest reports, US Short Term Interest Rate: Month End: Treasury Bills: 3 Months was reported at 3.73 % pa in Nov 2025.
• Its Long Term Interest Rate (Treasury Notes Yield: Constant Maturity: Nominal: 10 Years) was reported at 4.09 % pa in Nov 2025.
• Its Real Effective Exchange Rate was 115.67 in Oct 2025.

China: Real interest rate: Bank lending rate minus inflation: The latest value from 2024 is 5.09 percent, an increase from 4.88 percent in 2023. In comparison, the world average is 4.99 percent, based on data from 73 countries. Historically, the average for China from 1980 to 2024 is 2.13 percent. The minimum value, -8.01 percent, was reached in 1994 while the maximum of 7.38 percent was recorded in 1982.

In 2023, the deposit interest rate in China stood at *** percent. Between 1980 and 2023, the figure dropped by *** percentage points, though the decline followed an uneven course rather than a steady trajectory.