The Reserve Bank of Zimbabwe hiked its overnight lending rate to 70 percent on September 13th, 2019, from 50 percent to curb rising inflation and support the local currency. The bank also said it was introducing dollar-denominated savings bonds to try to stimulate greater saving. Zimbabwe's government banned the use of foreign currencies earlier this year as the country faces its worst crisis in a decade. Interest Rate in Zimbabwe averaged 35 percent from 2019 until 2019, reaching an all time high of 70 percent in September of 2019 and a record low of 15 percent in March of 2019.
Interest Rate in Zimbabwe is expected to be 70.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Zimbabwe to stand at 70.00 in 12 months time. In the long-term, the Zimbabwe Interest Rate is projected to trend around 65.00 percent in 2020, according to our econometric models.