Fiatmap

Cost of moneySpain

Real policy rate in Spain

Does money at the central bank’s rate actually beat inflation?

Spain's real policy rate is -0.45 % — #44 of 53 countries on the atlas (higher is better). Period 2026-08.

-0.45%

Checked 8 Sept 2026Period 2026-08

Source: Fiatmap derived metrics (own calculation from separately sourced components)

Negative: cash in Spain loses 0.5 pp of purchasing power a year even in the bank.

Among 53 countries

2 of 53 countries between -2.17 % and -1.86 %1 of 53 countries between -1.86 % and -1.55 %3 of 53 countries between -1.55 % and -1.24 %1 of 53 countries between -1.24 % and -0.93 %1 of 53 countries between -0.93 % and -0.62 %3 of 53 countries between -0.62 % and -0.31 %10 of 53 countries between -0.31 % and 0.00 %4 of 53 countries between 0.00 % and 0.31 %1 of 53 countries between 0.31 % and 0.62 %3 of 53 countries between 0.62 % and 0.93 %4 of 53 countries between 0.93 % and 1.24 %6 of 53 countries between 1.24 % and 1.56 %3 of 53 countries between 1.87 % and 2.18 %3 of 53 countries between 2.49 % and 2.80 %2 of 53 countries between 2.80 % and 3.11 %1 of 53 countries between 3.11 % and 3.42 %2 of 53 countries between 3.73 % and 4.04 %3 of 53 countries between 4.97 % and 5.28 %median 0.63 %Spain: ahead of 17 % of the 53 countries with a published real policy rateSpain -0.45 %-2.17 %5.28 %
Half of all 53 countries sit between -0.15 % and 1.91 %. Spain is ahead of 17 % of them. Axis trimmed to the 2nd–98th percentile; 3 values beyond it sit in the end bars.
Rank
#44 of 53
higher is better
Ranked behind
17 %
9 of 53 countries

In Europe: #22 of 30vs median 0.63 %: −1.08 pp (worse)

The neighbourhood

#CountryReal policy ratevs Spain
42 Greece-0.23 %+0.22 pp
43 New Zealand-0.34 %+0.11 pp
44 Spain-0.45 %—
45 Austria-0.53 %−0.08 pp
46 Romania-0.69 %−0.24 pp

Policy rate minus annual CPI inflation — positive means money in the bank beats inflation. Our calculation from separately sourced components.

How to read this figure

Our own calculation: the central bank policy rate minus annual CPI inflation. It answers one question — does parked money beat rising prices? Both components are separately sourced official figures, and we never compute it when either leg is missing.

Next, about Spain

Mortgage ratesInflation rate
Real policy rate, all countries ranked →Compare Spain with another country →Everything about Spain →Methodology →
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