Interest rates are one of the clearest signals of an economy’s health. Set by central banks, they influence nearly every part of daily life. From the cost of home loans and business credit to the price of everyday goods and even the value of a country’s currency, all aspects of a nation’s finances depend on interest rates. When inflation surges or a currency weakens, countries often face a difficult but necessary choice: raise the rates.
Though painful in the short term because it leads to slow growth, increased costs, and strained household budgets, the move is intended to cool down inflation, restore stability, and rebuild faith in the economy. In times of economic turmoil, high interest rates become a tool of last resort to prevent further collapse.
This gallery highlights countries with the highest interest rates and the issues they're facing. Want to know which countries feature in the list? Click on to find out.