Interest Rates
An interest rate is the cost of borrowing money, or equivalently the reward for lending or saving it, usually expressed as a percentage of the amount borrowed or saved per year. Interest rates influence a wide range of economic decisions: higher rates generally make borrowing more expensive and saving more rewarding, which tends to slow down spending and investment, while lower rates generally do the reverse, one of the main reasons a country's central bank uses interest rates as a tool to help manage the overall economy.
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