Interest rates in the world's top nations

The rise and fall in interest rates is cyclical in an economy. The Reserve Bank uses short-term interest rates to regulate the economy.
Short-term interest rates have a direct impact on consumer loans. When the key interest rates are cut, loans become cheaper.
During a recession, the interest rates are cut so that borrowing becomes easier. People tend to spend more, this in turn boosts the economy.
The Reserve Bank and its counter parts in the US, UK, Japan, China have also cut rates to save the sinking economy.
Check out the interest rates in the world's leading nations and in countries were the crisis has hit the economy badly...
India
The Reserve Bank of India cut the repo rate or its key short-term lending rate by 50 basis points to 7.5% and banks' cash reserve requirements (CRR) by 100 basis points to 5.5 per cent.
The repo rate or the short term interest rate in India has varied between 6 to 16 per cent from 2000 to 2008.
GDP: $1.1 trillion

United States
The US Federal Reserve cut its key interest rate from 1.5 per cent to 1 per cent to avoid a deep recession.
The Fed has earlier cut rates from 2 to 1.5 per cent.
In the United States the rate has varied between 1 per cent and 19 per cent from 1954 to 2008.

GDP: $13.81 trillion