Yes, that would be the market interest rate based on supply/demand, as any other good. If supply >> demand (a lot of people have a capital they don't know what do to with) then you get a low interest rate, otherwise a high interest rate.
Centrally controlled interest rates are basically price controls. The govt controls the price of money. Even a 5 year old knows price controls don't work, but we can't expect that from the govt.
Centrally controlled interest rates are basically price controls. The govt controls the price of money. Even a 5 year old knows price controls don't work, but we can't expect that from the govt.