Question: What were the interest rates in 2012 (USA)?
What were the Federal Funds Rate in 2012?
In 2012, the Federal Funds Rate remained steady at a range of 0.00% to 0.25%. The Federal Reserve decided to maintain this low rate to support the ongoing recovery of the economy from the 2008 financial crisis.
What were the Personal Loan Interest Rates in 2012?
The interest rates on personal loans at banks for a 24-month loan fluctuated slightly throughout 2012. According to the Federal Reserve Economic Data, the rates were as follows:
- In February, the rate was 10.89%
- In May, the rate increased slightly to 10.94%
- In August, the rate dropped to 10.37%
- In November, the rate increased again to 10.64%
What were the Credit Card Interest Rates in 2012?
The interest rates on credit cards also saw minor fluctuations in 2012. According to the Federal Reserve Economic Data, the rates were as follows:
- In February, the rate was 12.34%
- In May, the rate decreased to 12.06%
- In August, the rate dropped slightly to 11.95%
- In November, the rate decreased again to 11.88%
Average inflation rate (CPI) during 2012
The average inflation rate in 2012, according to the Federal Reserve Economic Data, was 1.74%. This rate is calculated based on the Consumer Price Index (CPI) for All Urban Consumers for all items. The inflation rate is a key factor that influences interest rates, as it represents the overall rise in the price level of goods and services in an economy.
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)
