Central Bank Discount Rate (%) 2017
Central Bank Discount Rate measures monetary policy impact. Explore global rankings, compare countries, and view historical trends with interactive maps.
Interactive Map
Complete Data Rankings
Analysis: These countries represent the highest values in this dataset, showcasing significant scale and impact on global statistics.
- #168
Yemen - #167
Portugal - #166
Netherlands - #165
United Kingdom - #164
Sweden - #163
Somalia - #162
Sierra Leone - #161
Slovenia - #160
Spain - #159
Senegal
Context: These countries or territories have the lowest values, often due to geographic size, administrative status, or specific characteristics.
Analysis & Context
In 2017, the country with the highest Central Bank Discount Rate (%) was Venezuela at 29.5%, while the global range spanned from 0.00% to 29.50%. The average Central Bank Discount Rate (%) across the 155 countries with available data was 5.90%, providing a snapshot of monetary policy stances worldwide.
High Discount Rates: Economic Pressures and Policy Responses
Countries with the highest Central Bank Discount Rates (%) in 2017, such as Venezuela at 29.5%, Ghana at 25.5%, and Malawi at 24%, often faced significant economic challenges. These high rates are typically a response to rampant inflation or currency depreciation. In Venezuela, hyperinflation drove the central bank to set a steep rate to try and stabilize the economy, though with limited success. Similarly, Ghana and Malawi used high rates as a tool to combat inflationary pressures, reflecting broader fiscal and monetary challenges in these economies.
Zero Discount Rates: Economic Stability and Integration
Conversely, countries like the Netherlands, Slovenia, and Latvia recorded a 0.00% discount rate. These nations benefit from economic stability and are part of the Eurozone, where monetary policy is heavily influenced by the European Central Bank's low-interest-rate environment aimed at stimulating growth in a post-crisis Europe. The uniformity of zero rates in these countries underscores the impact of regional monetary policy integration.
Year-over-Year Trends: Significant Movers
The year-over-year changes in Central Bank Discount Rate (%) reveal notable shifts. Tajikistan experienced a dramatic increase of 11.20% (233.3%), rising to 16%, driven by efforts to control inflation and stabilize the national currency. Azerbaijan also saw a significant increase of 10.00% (200.0%), reflecting similar economic stabilization efforts. On the other hand, Costa Rica reduced its rate by 18.00% (-83.7%), possibly to stimulate economic activity amid stable inflation conditions. Such changes highlight the diverse monetary policy strategies employed globally in response to domestic economic conditions.
Global Patterns and Implications
The global average Central Bank Discount Rate (%) of 5.90% in 2017 illustrates a world divided between countries using high rates to counter inflation and those leveraging low rates to boost growth. The median rate of 5.00% suggests that many countries maintain moderate rates, balancing between these two extremes. The data indicates a nuanced global economic landscape where monetary policy serves as a critical tool for addressing unique national challenges, from hyperinflation in Venezuela to economic integration within the Eurozone. These patterns reflect broader economic trends and the diverse fiscal health of nations, influencing global economic stability and growth trajectories.
Frequently Asked Questions About Central Bank Discount Rate (%) in 2017
Which country had the highest central bank discount rate in 2017?
Venezuela had the highest central bank discount rate in 2017, at 29.5%.
What was the lowest central bank discount rate in 2017?
The lowest central bank discount rate in 2017 was 0%, observed in the Netherlands.
What was the average central bank discount rate across countries in 2017?
The average central bank discount rate across the 155 countries in 2017 was 5.9%.
What was the median central bank discount rate in 2017?
The median central bank discount rate in 2017 was 5%.
Which countries were in the top 3 for highest central bank discount rates in 2017?
The top 3 countries with the highest central bank discount rates in 2017 were Venezuela (29.5%), Ghana (25.5%), and Malawi (24%).
How many countries had a central bank discount rate of 0% in 2017?
In 2017, nine countries had a central bank discount rate of 0%.
Insights by country
Equatorial Guinea
In 2017, Equatorial Guinea had a Central Bank Discount Rate of 8.5 %, ranking #37 out of 168 countries. This rate is relatively high compared to the global average, reflecting the nation’s unique economic landscape. Key drivers of this discount rate include the country’s reliance on oil exports and fluctuating commodity prices, which significantly impact monetary policy and financial stability.
Papua New Guinea
Papua New Guinea ranked #12 globally with a Central Bank Discount Rate of 14 % in 2017. This rate was significantly higher than the global average, reflecting the country's unique economic challenges. Key drivers include high inflation rates driven by fluctuating commodity prices and a reliance on the extractive industries, which contribute to economic instability and influence monetary policy decisions.
Jamaica
In 2017, Jamaica held a global rank of #114 with a Central Bank Discount Rate of 2 %. This rate is relatively low compared to the global average, indicating a more accommodative monetary policy aimed at stimulating economic growth. Factors contributing to this rate include Jamaica's efforts to stabilize its economy after years of debt and inflation challenges, as well as initiatives to attract foreign investment and promote sustainable development.
Grenada
In 2017, Grenada had a Central Bank Discount Rate (%) of 6.5 %, ranking #58 out of 168 countries. This rate is relatively high compared to several Caribbean neighbors, which often have lower rates reflecting different economic conditions. The elevated discount rate in Grenada is primarily driven by a need to control inflation and stabilize the economy following past fiscal challenges and external shocks.
Greenland
In 2017, Greenland's Central Bank Discount Rate (%) was NA%, ranking #155 out of 168 countries. This rate indicates a lack of formal monetary policy tools, particularly when compared to countries with established central banking systems, such as Denmark, which exercises influence over Greenland's economy. The absence of a defined discount rate reflects Greenland's unique economic structure, heavily reliant on fishing and subsidies from Denmark, rather than a diverse industrial base.
Tajikistan
Tajikistan ranked #9 globally for its Central Bank Discount Rate (%) at 16 % in 2017. This rate is significantly higher than the global average, indicating tight monetary policy aimed at controlling inflation. The high discount rate reflects ongoing economic challenges, including reliance on remittances and vulnerability to external shocks, particularly in the energy sector. Additionally, Tajikistan's efforts to stabilize its currency and attract foreign investment have influenced this monetary stance.
Honduras
In 2017, Honduras had a Central Bank Discount Rate of 6.25 %, ranking #65 out of 168 countries. This rate is relatively high compared to many of its Central American neighbors, reflecting the region's economic volatility and inflationary pressures. Key drivers of this rate include Honduras's reliance on remittances and agriculture, which can be sensitive to global market fluctuations and natural disasters.
South Korea
In 2017, South Korea held a global rank of #124 with a Central Bank Discount Rate of 1.25 %. This rate is relatively low compared to regional neighbors, reflecting a cautious monetary policy aimed at stimulating economic growth amidst global uncertainties. Key drivers for this rate include South Korea's export-driven economy and the need to support domestic consumption, particularly in the face of challenges such as high household debt levels.
Côte d'Ivoire
Côte d'Ivoire's Central Bank Discount Rate (%) in 2017 was 4.25 %, ranking it #89 out of 168 countries. This rate is relatively moderate compared to the global average, reflecting a stable yet cautious monetary policy approach in the region. The country's economic landscape, characterized by a strong agricultural sector and ongoing investments in infrastructure, has influenced its central banking decisions, aiming to balance growth with inflation control.
Indonesia
In 2017, Indonesia had a Central Bank Discount Rate of 6.37 %, ranking #64 out of 168 countries. This rate was higher than the regional average for Southeast Asia, reflecting the country's efforts to control inflation and stabilize its economy. Key drivers include Indonesia's robust domestic consumption and its strategic focus on managing monetary policy amid global economic uncertainties.
Data Source
CIA World Factbook
The World Factbook, also known as the CIA World Factbook, was a reference resource produced by the US Central Intelligence Agency between 1962 and 2026 with almanac-style information about the countries of the world. From 1971 it was not classified, and available to the public in print since 1975, initially by the CIA, and later the Government Publishing Office.
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