Review the section of the website that provides interest rates for various countries. Determine the prevailing one-year interest rate of the Australian dollar, the Japanese yen, and the British pound. Assuming a 2 percent real rate of interest for savers in any country, determine the expected rate of inflation over the next year in each of these three countries that is implied by the nominal interest rate (according to the IFE).

Interest rate

Australia 0.17%

Japan -0.15%

British -0.12%

Real interest rate is 2%