This table provides metadata for the actual indicator available from Vanuatu statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available from Vanuatuan statistics, this table should be consulted for information on national methodology and other Vanuatu-specific metadata information.
| Definition |
· The proportion of an amount loaned which a lender charges as interest to the borrower, normally expressed as an annual percentage. · It is the rate a bank or other lender charges to borrow its money, or the rate a bank pays its savers for keeping money in an account.A bank rate is the interest rate at which a nation’s central bank lends money to domestic banks, often in the form of very short-term loans. |
|---|---|
| Concept |
· Interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. · A rental payment for the use of credit by borrowers. |
| Rationale |
· Interest rate guides economic because it is a vital tool of monetary policy. · Interest rate directly impacts economic choices such as spending, investment, and consumption. When interest rates decrease, investment and spending increase. When interest rates increase, investments decrease which causes the national income to fall. · It determines the strength of an economy and the economic well-being of its citizen. |
| Sustainable Development Goal Indicator Alignment |
8.10.1 (tier1), 8.10.2(tier2) |
| Frequency of Collection |
Annually |