From 0.1% In Japan To 5.9% In India To 18% In Iran — Here Are The Interest Rates In Asian Countries

An increased repo rate would result in increased borrowing costs as the banks would pass on the burden of the rate hike to consumers in the form of higher loan and deposit interest rates.

Written by: Sankunni K

Published: October 11, 2022, 4:38 PM IST

Share

Share Article

• Facebook
• WhatsApp
• X
• Email
• Telegram
• Linkedin

https://www.india.com/business/from-0-1-in-japan-to-5-9-in-india-to-18-in-iran-here-are-the-interest-rates-in-asian-countries-5680883/ Copy

Here Are The Interest Rates In Asian Countries (PC: pch.vector on Freepik)

New Delhi: On September 30, the Reserve Bank of India (RBI) hiked policy repo rate by 50 basis points to 5.90 per cent. The country’s central bank is widely expected to announce another 50 basis point hike after its December meeting and close the year with a policy rate above 6 per cent.

The repo rate of a country is simply but the interest rate at which the country’s central bank lends money to recognized commercial banks. It is used as a tool by the central bank in the financial market to achieve the country’s fiscal goals. An increased repo rate would result in increased borrowing costs as the banks would pass on the burden of the rate hike to consumers in the form of higher loan and deposit interest rates.

HERE’S HOW ASIAN COUNTRIES HAVE MAINTAINED THEIR POLICY RATES*

*Above data compiled from Tradingeconomics