It's not just America, rates are reaching new highs all around the world.
·
5.6k reads
·
The Lede
Interest rates around the world have been increasing since December 2021. Those set by the European Central Bank will be increased for the first time in over a decade this week. Last week Canadian central bankers added one percentage point to their rates and their contemporaries in the Philippines added 0.75 to theirs. Also, this year China's economy, one of the world's biggest, grew at its slowest pace (in Q2) for over three decades. Here's what interest rates around the world look like.
Key Details
- Argentina has the highest interest rate in the world (52 percent) and is more than twice of Ukraine's rate (25 percent), which is ranked second.
- Russia, Ghana, Pakistan, Sri Lanka, Kazakhstan, Turkey, Brazil, Nigeria, Belarus and Egypt all have interest rates above 10 percent, ranging from 20 to 11.25 percent.
- The interest rates in Japan, Switzerland and Denmark have gone down this year, and are the only countries where this has happened.
- More than 10 countries have a lower interest rate than the US.