RBI Monetary Policy: See where India stands on global interest rate ladder
The Reserve Bank of India on Tuesday kept the interest rate unchanged at its monetary policy review. Interestingly, according to International Monetary Fund (IMF), based on Gross Domestic Product (GDP), India stand at 7th position with second highest interest rate.
Yes you read it right. India has the second highest interest rate at 6.5%, while Brazil being at the top.
As per IMF, based on GDP data as of 2015, United States tops the economy chart followed by China (2nd), Japan (3rd), Germany (4th), United Kingdom (5th), France (6th), India (7th), Italy (8th), Brazil (9th) and Canada (10th).
Here's the list of top 10 economies and there current interest rates in ascending order:
|Country/Region||Interest Rate||Date of last change|
|Japan||-0.10%||1 February 2016|
|United States||0.50%||December 16 2015|
|United Kingdom||0.5%||March 2009|
|Canada||0.50%||15 July 2015|
|China||4.35%||October 23 2015|
|Brazil||14.25%||July 30 2015|