* indicates monthly or quarterly data series

Real interest rate: Bank lending rate minus inflation, 2022:

The average for 2022 based on 16 countries was -5.31 percent. The highest value was in Switzerland: 0.15 percent and the lowest value was in Norway: -19.39 percent. The indicator is available from 1961 to 2022. Below is a chart for all countries where data are available.

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


Countries Real interest rate, 2022 Global rank Available data
Switzerland 0.15 1 2008 - 2022
Italy -0.69 2 1989 - 2022
Belarus -0.72 3 1992 - 2022
Iceland -1.21 4 1996 - 2022
North Macedonia -1.91 5 2005 - 2022
Albania -3.06 6 1986 - 2022
Hungary -3.35 7 1992 - 2022
Russia -3.75 8 1997 - 2022
Czechia -3.97 9 1993 - 2022
Romania -4.94 10 1993 - 2022
Montenegro -5.98 11 2005 - 2022
Moldova -6.25 12 1996 - 2022
Bosnia & Herz. -7.52 13 2002 - 2022
Bulgaria -10.7 14 1992 - 2022
Ukraine -11.7 15 1992 - 2022
Norway -19.39 16 2013 - 2022



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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