A decade on from the financial crisis, 38 countries currently have interest rates at an all-time low. Ultra-low interest rates seem to be the tool of choice for Central Banks to help stimulate economies globally. But seriously, this a decade on from the financial crisis? Did the world really recover from the financial crisis? Probably not …
So which countries have interest rates at an all-time low?
The list of 38 countries with interest rates at an all-time low includes Switzerland, Denmark, Japan, Austria, Belgium, Bulgaria, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, New Caledonia, Fiji, Jamaica, Hungary, Albania, Australia, New Zealand, Macedonia, Malaysia, Iceland, Kyrgyzstan, Costa Rica, Jordan and Paraguay.
The zero or negative interest rate regime continues
25 countries have zero or negative interest rates including Switzerland, Denmark, Sweden, Japan, Austria, Belgium, Bulgaria, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
Other interesting things:
- The average interest rate globally is now 6.01%
- Argentina (59.90%), Venezuela (30.62%), Yemen (27%), Suriname (25%) and Turkey (24%) are countries with the highest interest rates
- The average interest rate in South America is over 12%
- Over the past year interest rates have fallen in 41 countries and risen in 50 countries
- The trend over the past 6 months is interest rates falling by 30 bps at an average, which major economy will see an interest rate cut next? Probably the United States
Related:
Interest Rates for each country and change over the past year – July 2019 Edition
Australia’s Central Bank cuts interest rates again to an all-time low of 1%