The National Bank of Rwanda lifted its benchmark interest rate by 50 bps to 7.25% during its February 2026 meeting, pushing borrowing costs to the highest since April 2024. Policymakers said the move will help to limit second-round effects of recent price increases and support a timely return of the inflation to the target band over the medium term. The overall inflation rate rose for the second month to a seven-month high of 7.5% in January 2026, compared to December's 5.2%, with urban inflation accelerating to 8.9% from 8% in December. Headline (urban) inflation is expected to remain elevated in the near term, slightly above 8% in the first half of 2026, before easing thereafter, returning towards the target band by the end of 2026. Meanwhile, the Committee highlighted Rwanda’s strong economic performance, with average growth of 8.7% in the first three quarters of 2025, up from 7.2% in 2024. It added that momentum carried into Q4, with the economic activity index climbing 17.1%. source: National Bank of Rwanda

The benchmark interest rate in Rwanda was last recorded at 7.25 percent. Interest Rate in Rwanda averaged 6.79 percent from 2005 until 2026, reaching an all time high of 9.00 percent in September of 2005 and a record low of 4.50 percent in March of 2020. This page provides the latest reported value for - Rwanda Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Rwanda Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

The benchmark interest rate in Rwanda was last recorded at 7.25 percent. Interest Rate in Rwanda is expected to be 7.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Rwanda Interest Rate is projected to trend around 8.50 percent in 2027 and 7.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-02-13 09:15 AM Interest Rate Decision 6.5% 6.5%
2025-11-20 09:30 AM Interest Rate Decision 6.75% 6.75% 6.75%
2026-02-19 09:30 AM Interest Rate Decision 7.25% 6.75% 6.75%
2026-05-22 09:30 AM Interest Rate Decision 7.25% 7.25%
2026-08-21 09:30 AM Interest Rate Decision
2026-11-20 09:30 AM Interest Rate Decision


Related Last Previous Unit Reference
Interbank Rate 6.98 6.93 percent Jan 2026
Interest Rate 7.25 6.75 percent Feb 2026
Lending Rate 15.83 15.81 percent Nov 2025
Money Supply M1 2689.30 2654.20 RWF Billion Dec 2025
Money Supply M2 3911.10 3861.70 RWF Billion Dec 2025
Money Supply M3 6144.60 5915.90 RWF Billion Dec 2025


Rwanda Interest Rate
In Rwanda interest rates decisions are taken by the National Bank of Rwanda. The official interest rate is the Key Repo Rate.
Actual Previous Highest Lowest Dates Unit Frequency
7.25 6.75 9.00 4.50 2005 - 2026 percent Daily

News Stream
Rwanda Hikes Key Policy Rate to 7.25%
The National Bank of Rwanda lifted its benchmark interest rate by 50 bps to 7.25% during its February 2026 meeting, pushing borrowing costs to the highest since April 2024. Policymakers said the move will help to limit second-round effects of recent price increases and support a timely return of the inflation to the target band over the medium term. The overall inflation rate rose for the second month to a seven-month high of 7.5% in January 2026, compared to December's 5.2%, with urban inflation accelerating to 8.9% from 8% in December. Headline (urban) inflation is expected to remain elevated in the near term, slightly above 8% in the first half of 2026, before easing thereafter, returning towards the target band by the end of 2026. Meanwhile, the Committee highlighted Rwanda’s strong economic performance, with average growth of 8.7% in the first three quarters of 2025, up from 7.2% in 2024. It added that momentum carried into Q4, with the economic activity index climbing 17.1%.
2026-02-19
Rwanda Leaves Key Policy Rate at 6.75%
The National Bank of Rwanda kept its benchmark interest rate unchanged at 6.75% during its November 2025 meeting, the highest level since July 2024. Policymakers stated the current stance was appropriate to keep inflation within the bank's 2%-8% target range, with a medium-term target of 5%. The central bank noted that headline inflation rose to 7.2% in Q3 2025, up from 6.7% in the previous quarter, due to increases in the core measure and energy prices, despite easing pressure from fresh food. Inflation is projected to remain within the target range, averaging 6.9% in 2025 and 5.8% in 2026. Core inflation is expected to remain high until early 2026 but should gradually decline later in the year. Meanwhile, the domestic economy is projected to sustain robust growth in Q3 2025, after expanding 7.8% in Q2.
2025-11-20
Rwanda Holds Rate for Third Meeting in a Row
The National Bank of Rwanda left its benchmark interest rate unchanged at 6.5% during its May 2025 meeting, marking the third consecutive meeting with no changes. Policymakers said the current stance was adequate to keep inflation within the bank's target while continuing to support economic growth. Inflation is projected to stay around 6.5% for the rest of the year, before declining to 3.9% in 2026, despite ongoing risks to the outlook.
2025-05-15