The benchmark interest rate in Tajikistan was last recorded at 7 percent. Interest Rate in Tajikistan averaged 10.65 percent from 2003 until 2026, reaching an all time high of 18.06 percent in October of 2003 and a record low of 4.80 percent in January of 2014. source: National Bank of Tajikistan

Interest Rate in Tajikistan 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 Tajikistan Interest Rate is projected to trend around 6.00 percent in 2027, according to our econometric models.



Related Last Previous Unit Reference
Interest Rate 7.00 7.50 percent Jan 2026
Money Supply M0 42837.50 41518.82 TJS Thousand Dec 2025
Money Supply M1 46425.24 44185.39 TJS Thousand Dec 2025
Money Supply M2 57846.11 54990.61 TJS Thousand Dec 2025


Tajikistan Interest Rate
In Tajikistan, monetary policy decisions are made by the National Bank of Tajikistan (NBT), with the refinancing rate serving as the country’s key policy rate. The NBT aims to maintain medium-term inflation at 5% ± 2 percentage points, corresponding to a target range of approximately 3% to 7%.
Actual Previous Highest Lowest Dates Unit Frequency
7.00 7.50 18.06 4.80 2003 - 2026 percent Daily

News Stream
Tajikistan Cuts Key Rate to Lowest Level Since 2014
The National Bank of Tajikistan lowered its key refinancing rate by 25 basis points to 7.50% during its October meeting, bringing borrowing costs to their lowest level since 2014. The decision follows a continued downward trend in inflation, which fell to 2.8% in September, its lowest level since July 2023 and below the central bank’s target range of 3%-7%. Meanwhile, real GDP growth remained robust, reaching 8.2% between January and August 2025, supporting the central bank’s more accommodative policy stance.
2025-10-29
Tajikistan Trims Key Rate to 8.25%
The National Bank of Tajikistan lowered its key refinancing rate by 50 basis points to 8.25% during its April 2025 meeting, marking the second consecutive rate cut since the start of the year. The decision comes as inflation remains at the lower bound of the central bank’s target range, with policymakers also considering the effects of domestic and global commodity prices. The annual inflation rate eased to a six-month low of 3.4% in March, from 3.6% in February.
2025-04-30