5 Countries with Lowest Interest Rates

#1 Japan

Interest Rate: -0.1%

Reference Month: October 2022

As the only country in the world with a negative interest rate, Japan ranks #1 on our list of 15 Countries with Lowest Interest Rates. As of October 2022, Japan had an interest rate of -0.1%, which is the same short term interest rate as that during September of 2022. According to the Bank of Japan’s estimates, inflation will be 2.9% in 2022, up slightly from the previous estimate of 2.3%, but still well below that of many other nations.

In terms of its history, Japan’s -0.1% interest rate isn’t unique. The country has had negative interest rates for six years and the country’s core inflation is still low when adjusting for the rising in energy prices. Although negative interest rates can make consumers want to spend more because it theoretically costs savers money to save, Japan’s consumption has not increased all that much over the past few years.

Nevertheless, Japan’s economy is expected to expand in the future. According to the IMF, Japan’s economy is expected to grow 1.7% in 2022. According to an OECD Economic Outlook, Japan’s economy is expected to grow 1.8% in 2023 and 0.9% in 2024 in terms of real GDP growth. Inflation is also expected to remain low in the next few years in the country.

You can also take a look at Warren Buffett’s Top 10 Dividend Stock Picks and 15 Largest Hotel Chains in the US in 2022.

Follow Insider Monkey on Twitter