Question: What were the interest rates in 2015 (USA)?
What were the Federal Funds Rate in 2015?
In 2015, the Federal Funds Rate, which is the interest rate at which banks lend reserve balances to other banks on an overnight basis, saw a significant change. The rate started the year at a range of 0.00% to 0.25%. However, in December, the Federal Reserve raised the rate for the first time since 2006. The new range was set at 0.25% to 0.50%. This change was made to reflect the improving U.S. economy and the Federal Reserve’s confidence in the ongoing economic recovery.
What were the Personal Loan Interest Rates in 2015?
The interest rates on personal loans at banks for a 24-month loan saw minor fluctuations throughout 2015. According to the Federal Reserve Economic Data:
- In February, the rate was 9.85%
- In May, the rate slightly decreased to 9.69%
- In August, the rate increased to 9.80%
- In November, the rate decreased again to 9.66%
What were the Credit Card Interest Rates in 2015?
The interest rates on credit cards also saw minor increases throughout the year. According to the Federal Reserve Economic Data:
- In February, the rate was 11.98%
- In May, the rate slightly increased to 12.04%
- In August, the rate increased again to 12.10%
- In November, the rate reached 12.22%
Average inflation rate (CPI) during 2015
The average inflation rate in 2015, as measured by the Consumer Price Index (CPI) for All Urban Consumers, was 0.73% according to the Federal Reserve Economic Data. This relatively low inflation rate was influenced by factors such as falling oil prices and a strong dollar.
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)
