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.