Interest rates are important because they are one of the key indicators of the health of an economy. When interest rates are high, it can be difficult for businesses and consumers to borrow money, which can stunt economic growth. Low-interest rates make it easier for businesses and consumers to borrow money, which can help spur economic growth. In addition, interest rates play a role in how much it costs to borrow money. When interest rates are high, it costs more to borrow money.