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.

Zimbabwe Interest Rate
Forecast Data Chart
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Zimbabwe Money Last Previous Highest Lowest Unit
Interest Rate 70.00 50.00 70.00 15.00 percent [+]
Money Supply M1 13167336.00 11257783.00 13167336.00 216333.00 USD Thousands [+]
Money Supply M2 14596223.00 12869598.00 14596223.00 297563.00 USD Thousands [+]
Money Supply M3 14767891.00 13009038.00 14767891.00 297626.00 USD Thousands [+]
Lending Rate 22.00 22.00 35.00 16.00 percent [+]
Banks Balance Sheet 20146.80 17100.70 20146.80 601.60 USD Million [+]

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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
70.00 50.00 70.00 15.00 2019 - 2019 percent Daily

Country Last Previous
Argentina 84.15 Sep/19
Turkey 16.50 Sep/19
Mexico 8.00 Aug/19
Russia 7.00 Sep/19
South Africa 6.50 Aug/19
Brazil 6.00 Aug/19
Indonesia 5.50 Aug/19
India 5.40 Aug/19
China 4.25 Sep/19
Saudi Arabia 2.75 Aug/19
United States 2.25 Aug/19
Canada 1.75 Sep/19
Singapore 1.74 Aug/19
South Korea 1.50 Aug/19
Australia 1.00 Sep/19
United Kingdom 0.75 Aug/19
Euro Area 0.00 Sep/19
France 0.00 Sep/19
Germany 0.00 Sep/19
Italy 0.00 Sep/19
Netherlands 0.00 Sep/19
Spain 0.00 Sep/19
Japan -0.10 Aug/19
Switzerland -0.75 Aug/19