Argentina ranked first in the world in raising interest rates with an interest rate of 97 percent. Pakistan ranked second globally with interest rates of 21 percent. With Egypt entering into a $3 billion bailout program with the International Monetary Fund, inflation rates rising to more than 36 percent, and successive declines in the pound, interest rates have risen dramatically to 18.25 percent, third globally. While recorded Interest rates in Iran are 18 percent (fourth globally), followed by Brazil (13.75 percent), Mexico (11.25 percent), and Turkey (8.5 percent).
Japan remains a different case, as it is the only country in the world to maintain a negative interest rate of -0.1%, amid suspicions that the Bank of Japan has abandoned its accommodative policy, with the country maintaining one of the lowest inflation rates around the world.
Source (Al-Arabiya.net Website, Edited)
