Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Australia
Annual
IRSTCI01AUA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.35
Year-over-Year Change
43.56%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual Interest Rate for Savings Deposits in the U.S. measures the average annual percentage yield (APY) paid on savings deposits by U.S. banks. This metric is closely watched by economists and policymakers as an indicator of household savings behavior and the overall interest rate environment.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Annual Interest Rate for Savings Deposits tracks the effective yield on savings accounts and other retail deposit products offered by commercial banks in the United States. It reflects the interest rates and account terms that banks use to attract consumer deposits, which are a key funding source for lending activities.
Methodology
The data is collected and calculated by the U.S. Federal Reserve through surveys of domestic banking institutions.
Historical Context
This interest rate trend provides important insights into consumer financial conditions and the monetary policy stance.
Key Facts
- Savings deposit interest rates have been at historically low levels since the 2008 financial crisis.
- The annual rate averaged around 0.06% in 2021, down from over 4% prior to the Great Recession.
- Low savings yields have contributed to a decline in the personal savings rate in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Annual Interest Rate for Savings Deposits measures the average annual percentage yield (APY) paid on savings accounts and other retail deposit products by U.S. banks.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into household savings behavior and the overall interest rate environment, which are key factors monitored by economists, policymakers, and financial market participants.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve through surveys of domestic banking institutions.
Q: How is this trend used in economic policy?
A: The Annual Interest Rate for Savings Deposits is used by the Federal Reserve and other policymakers to assess monetary policy stance and consumer financial conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 45 days.
Related Trends
Barro-Lee: Population age 25+ with tertiary schooling. Total (Incomplete and Completed Tertiary) for Australia
BARTERICMP25UPZSAUS
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels for Australia
AUSCP040000GYQ
Total Credit to General Government, Adjusted for Breaks, for Australia
QAUGAM770A
Nominal Total Credit to General Government, Adjusted for Breaks, for Australia
QAUGAN770A
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Food and Non-Alcoholic Beverages for Australia
AUSCP010000IXOBQ
Net Issues of International Debt Securities for All Issuers, All Maturities, Residence of Issuer in Australia
IDSAMRINIAU
Citation
U.S. Federal Reserve, Annual Interest Rate for Savings Deposits (IRSTCI01AUA156N), retrieved from FRED.