Question: What were the interest rates in 2011?
What were the Federal Funds Rate in 2011?
In 2011, the Federal Funds Rate, which is the interest rate at which banks lend reserve balances to other banks on an overnight basis, remained steady. According to the Federal Reserve Bank of St. Louis, the Federal Funds Rate started the year at a range of 0.00% to 0.25% and ended the year within the same range. There were no adjustments to the Federal Funds Rate in 2011.
What were the Personal Loan Interest Rates in 2011?
The interest rates on personal loans at banks for a 24-month loan fluctuated throughout 2011. According to the Federal Reserve Economic Data:
- In February, the rate was 10.98%
- In May, the rate increased to 11.37%
- In August, the rate decreased to 10.80%
- In November, the rate further decreased to 10.36%
What were the Credit Card Interest Rates in 2011?
The interest rates on credit cards also varied throughout 2011. According to the Federal Reserve Economic Data:
- In February, the rate was 13.44%
- In May, the rate decreased to 12.89%
- In August, the rate further decreased to 12.28%
- In November, the rate slightly increased to 12.36%
Average inflation rate (CPI) during 2011
The average inflation rate in 2011, as measured by the Consumer Price Index (CPI) for All Urban Consumers for all items, was 2.96% according to the Federal Reserve Economic Data. This rate represents the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Source notes: Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan (Source Federal Reserve Economic Data), Commercial Bank Interest Rate on Credit Card Plans All Accounts (Source Federal Reserve Economic Data), Inflation rate according to Federal Reserve Economic Data (CPI for All Urban Consumers: All Items in U.S. City Average, Percent Change from Year Ago. Annual, Not Seasonally Adjusted)
