US and global interest rate report

August 04, 2014

By MoneyRates Team | Money Rates Columnist

Interest rates determine the costs charged for the use of money. The calculation for an interest rate is a simple expression of interest payments as an annualized percentage of principal.

Benchmark interest rates are set by entities such as the Federal Reserve, governments and banks. They are used to peg other consumer and commercial interest rates, such as the rates on mortgages, credit cards and loans. They also influence what is earned on CDs, savings accounts, money market accounts and checking accounts.

Below are the latest MoneyRates data on current interest rates.

Current U.S. interest rates

Prime rate: 3.25%

Discount rate (primary): 0.75%

Federal funds rate (target): 0.25%

Broker call rate: 2.00%

2-year Treasury: 0.50%

5-year Treasury: 1.63%

10-year Treasury: 2.50%

30-year Treasury: 3.38%

Foreign prime rates

Canada: 3.00%

Euro zone: 0.15%

Japan: 1.475%

Switzerland: 0.50%

Britain: 0.50%

Australia: 2.50%

Foreign central bank rates

Argentina: 22.50%

Australia: 2.50%

Brazil: 11.00%

Canada: 1.00%

China: 6.00%

European Monetary Union: 0.15%

Hong Kong: 0.50%

India: 8.00%

Japan: 0.00%

Switzerland: 0.00%

United Kingdom: 0.50%

Your responses to ‘US and global interest rate report’

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Gary

3 August 2012 at 8:22 am

Rates are too low all around...they have not sparked the economy and have crippled the seniors that rely on interest for retirement which in fact may hinder recovery since they dont have the money to spend without interest.

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