Monetary Freedom Index: Index evaluating the level of monetary freedom and stability - Jan. 31, 2023

The Monetary Freedom Index assesses the level of monetary freedom and stability in different countries, considering factors such as currency regulations, price stability, and the independence of central banks. This index provides insights into the efficiency of monetary policy, control of inflation, and stability of the financial system. Staying updated with this index helps in understanding the impact of monetary policies on economic stability and business conditions.

As of January 2020, New Zealand ranked first in the Monetary Freedom Index with a score of 87, indicating a high level of monetary freedom and stability. Peru secured the second position with a score of 86.3, followed closely by Australia at 86.2. On the other hand, Yemen, North Korea, and Venezuela scored 42.6, 0, and 0, respectively, indicating lower levels of monetary freedom and stability.

In January 2021, New Zealand maintained its first-place position with a slightly increased score of 86.9, showcasing continued high monetary freedom and stability. Australia ranked second with a score of 86.7, and Guinea-Bissau secured the third position with an identical score. North Korea, Venezuela, and Zimbabwe scored 0, 0, and 0, respectively, maintaining their lower levels of monetary freedom and stability.

Moving to January 2022, Japan claimed the top position in the Monetary Freedom Index with a score of 87.1, signifying a high level of monetary freedom and stability. Portugal secured the second position with a score of 86.8, followed by Singapore at 86.5. Japan's score indicates a relatively high level of monetary freedom and stability. North Korea, Venezuela, and Zimbabwe maintained their scores of 0, 0, and 0, respectively.

As of January 2023, Japan maintained its first-place position with a score of 87.1, indicating a continued high level of monetary freedom and stability. Switzerland secured the second position with a score of 85.1, followed by Comoros at 84.9. Sudan, Venezuela, and Zimbabwe scored 0, 0, and 0, respectively, reflecting lower levels of monetary freedom and stability.

Monitoring the Monetary Freedom Index provides insights into the level of monetary freedom, stability, and the effectiveness of monetary policies in different countries. It helps individuals, businesses, and policymakers assess the regulatory environment, inflation control measures, and the stability of the financial system. This information supports informed decision-making and promotes economic stability and business growth.