* indicates monthly or quarterly data series

Real interest rate: Bank lending rate minus inflation, 2021 - Country rankings:

The average for 2021 based on 16 countries was -1.93 percent.The highest value was in Moldova: 3.94 percent and the lowest value was in Norway: -12.53 percent. The indicator is available from 1961 to 2021. Below is a chart for all countries where data are available.

Measure: percent; Source: The International Monetary Fund
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* indicates monthly or quarterly data series


Countries Real interest rate, 2021 Global rank Available data
Moldova 3.94 1 1996 - 2021
Italy 1.54 2 1989 - 2021
Bosnia & Herz. 1.44 3 2002 - 2021
Montenegro 1.33 4 2005 - 2021
Switzerland 1.19 5 2008 - 2021
Romania 0.19 6 1993 - 2021
Albania 0.09 7 1986 - 2021
Iceland -0.56 8 1996 - 2021
Czechia -0.78 9 1993 - 2021
North Macedonia -1.13 10 2005 - 2021
Bulgaria -1.99 11 1992 - 2021
Belarus -2.4 12 1992 - 2021
Hungary -3.65 13 1992 - 2021
Russia -8.21 14 1997 - 2021
Ukraine -9.41 15 1992 - 2021
Norway -12.53 16 2013 - 2021

Economic outlook around the world

Definition: 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.
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