Real interest rates (policy rate minus inflation, %)

Countries with positive or neutral real rates include:
Large EM: Brazil, Mexico, Saudi
Small EM: China, UAE, Vietnam

Excludes severe negative rates in Iran (-16%), Lebanon (-160%), Sri Lanka (-52%), Turkiye (-67%), Zimbabwe (-250%)

Chart: Hasnain Malik Source: Bloomberg (8 Sep 2022), Tellimer Research Get the data