Eswatini Central Bank Hikes Rates for First Time in a Year

The Central Bank of Eswatini (CBE) raised its discount rate by 25 basis points to 7.0% at its September 2026 meeting, as widely expected.

The increase marked the first rate hike in more than a year, amid heightened inflation risks stemming from elevated energy prices linked to tensions in the Middle East.

CBE Governor Phil Mnisi said the decision reflected global, regional and domestic economic developments, while remaining consistent with the Bank’s mandate to safeguard price and financial stability.

The CBE also said commercial banks are expected to raise their prime lending rate on loans to individuals and businesses to 10.50% until the next monetary policy meeting.