The Reserve Bank of Zimbabwe raised its overnight lending rate to 40% from 35% during an unscheduled meeting in February of 2021, to ensure that inflation is under control and that the foreign exchange auction system is sustained to support the growth of the economy. Policymakers said that a new wave of the Covid-19 pandemic and its adverse impact on the economy are a cause for concern. Still, the bank remains optimistic that the expected economic growth of 7.4% in 2021 is achievable while it projects annual inflation to close the year at below 10%. The measured optimism is based on the expected significant growth of the agricultural output in 2021, as a result of the good rainy season, fiscal sustainability and the Bank’s focus on price and financial system stability. source: Reserve Bank of Zimbabwe

Interest Rate in Zimbabwe averaged 34.57 percent from 2019 until 2021, reaching an all time high of 70 percent in September of 2019 and a record low of 15 percent in March of 2019. This page provides the latest reported value for - Zimbabwe Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Zimbabwe Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.

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 50.00 percent in 2022, according to our econometric models.

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Zimbabwe Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
40.00 35.00 70.00 15.00 2019 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-03-26 04:30 PM 25% 35%
2020-06-30 04:20 PM 35% 15%
2020-08-21 11:30 AM 35% 35%
2021-02-18 12:40 PM 40% 35%


News Stream
Zimbabwe Lifts Key Interest Rate to 40%
The Reserve Bank of Zimbabwe raised its overnight lending rate to 40% from 35% during an unscheduled meeting in February of 2021, to ensure that inflation is under control and that the foreign exchange auction system is sustained to support the growth of the economy. Policymakers said that a new wave of the Covid-19 pandemic and its adverse impact on the economy are a cause for concern. Still, the bank remains optimistic that the expected economic growth of 7.4% in 2021 is achievable while it projects annual inflation to close the year at below 10%. The measured optimism is based on the expected significant growth of the agricultural output in 2021, as a result of the good rainy season, fiscal sustainability and the Bank’s focus on price and financial system stability.
2021-02-18
Zimbabwe Leaves Key Interest Rate Steady at 35%
The Reserve Bank of Zimbabwe announced that kept unchanged its overnight lending rate at 35% in its mid-term monetary policy statement in August of 2020, as part of the continued efforts to reduce excess liquidity that could be used to buy foreign currency and put pressure on the local currency. Headline inflation climbed further to 837.5% in July of 2020 from 737.3% in June as the global pandemic aggravated structural issues, such as shortages of fuel and food and a collapsing currency.
2020-08-21
Zimbabwe Raises Key Interest Rate to 35%
The Reserve Bank of Zimbabwe lifted its overnight lending rate to 35% from 15% during an unscheduled meeting in June of 2020, aiming to curb inflationary pressures and stabilize the exchange rate amid the continued devaluation of the currency. Headline inflation climbed to 785.55% in May from 765.57% in the previous month, linked to shortages of fuel and foreign currency.
2020-06-30
Zimbabwe Trims Key Interest Rate to 25%
The Reserve Bank of Zimbabwe slashed its overnight lending rate by 100 bps to 25% at an unscheduled meeting in March 2020, to support the economy in the context of the coronavirus pandemic. Governor Mangudya also announced that the central bank would suspend a floating exchange rate system adopted two weeks ago in favor of a fixed exchange regime to provide greater certainty in the pricing of goods and services in the economy. Policymakers also cut the reserve ratio rate to 4.5% from 5% in order to pump liquidity into the banks and enhance their lending activities.
2020-03-26

Zimbabwe Interest Rate
The Reserve Bank of Zimbabwe is responsible for the formulation and implementation of monetary policy, directed at ensuring low and stable inflation levels. A further core function of the Bank is to maintain a stable banking system through its supervisory and lender of last resort functions. Its official rate is the interest rate on the Reserve Bank overnight window. Zimbabwe has appointed a monetary policy committee (MPC) at its central bank on September 10th, 2019.