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Real interest rates on households' deposits

Real interest rates for private households

Real interest rates are interest rates that have been adjusted for developments in purchasing power. They are broadly calculated as the difference between the nominal interest rate and the inflation rate (in the case of low interest rates and relatively stable prices). In contrast to ex-ante real interest rates (expected real interest rates) ex-post real interest rates are provided here, which are calculated on the basis of effective nominal interest rates on deposits and the realised rate of inflation.

For a detailed explanation of the data basis and the calculation of the real interest rates for private households by the Bundesbank, see: monthly report “Changes to the MFI interest rate statistics”, July 2017, p. 98 and pp. 100-103.