The Reserve Bank of Zimbabwe raised its overnight lending rate by 200bps to 60% from 40% during a monetary policy meeting held on October 28th. It is the first rate hike since May 2020 and brings borrowing cost to the highest since October 2019. Policymakers expressed concern regarding the recent increase in month-on-month inflation, from 4.7% in September 2021 to 6.4% in October 2021, and annual inflation from 51.5% to 54.5% over the same period, driven mainly by the resurgence in the volatility of the parallel market exchange rate. source: Reserve Bank of Zimbabwe

Interest Rate in Zimbabwe averaged 36.52 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 November of 2021.

Interest Rate in Zimbabwe is expected to be 60.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zimbabwe Interest Rate is projected to trend around 40.00 percent in 2022, according to our econometric models.

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Zimbabwe Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-07-02 01:30 PM 40% 40% 40%
2021-08-30 11:40 AM 40% 40%
2021-10-28 06:10 PM 60% 40%
2021-12-03 02:00 PM 60% 60%


Related Last Previous Unit Reference
Interest Rate 60.00 40.00 percent Oct/21
Money Supply M1 335026202.00 300262148.00 USD Thousands Sep/21
Money Supply M2 361406858.00 327313703.00 USD Thousands Sep/21
Money Supply M3 364598792.00 329186835.99 USD Thousands Sep/21
Deposit Interest Rate 26.00 26.00 percent Sep/21
Banks Balance Sheet 496213.60 475997.30 USD Million Sep/21
Lending Rate 85.00 85.00 percent Sep/21

News Stream
Zimbabwe Lifts Key Interest Rate to 60%
The Reserve Bank of Zimbabwe raised its overnight lending rate by 200bps to 60% from 40% during a monetary policy meeting held on October 28th. It is the first rate hike since May 2020 and brings borrowing cost to the highest since October 2019. Policymakers expressed concern regarding the recent increase in month-on-month inflation, from 4.7% in September 2021 to 6.4% in October 2021, and annual inflation from 51.5% to 54.5% over the same period, driven mainly by the resurgence in the volatility of the parallel market exchange rate.
2021-10-28
Zimbabwe Keeps Interest Rate at 40%
The Reserve Bank of Zimbabwe announced that kept unchanged its overnight lending rate at 40% during a monetary policy meeting held on August 27th. Policymakers emphasised the need for staying the course of the current monetary policy stance which has proven to be effective in curbing inflation and fostering monetary stability in the economy. The current disinflationary trajectory has seen annual inflation dropping from 837.5% in July 2020 to 50.2% in August 2021, the lowest since December of 2018.
2021-08-30
Zimbabwe Holds Key Interest Rate at 40%
The Reserve Bank of Zimbabwe announced that kept unchanged its overnight lending rate at 40% during a monetary policy meeting held on June 30th, in an effort to entrench the prevailing economic stability, positive growth trajectory and sustain the inflation decline. The Committee noted the current disinflationary trajectory which has seen annual inflation further falling from 161.9% in May to 106.6% in June 2021. The Bank expects annual inflation to decline to 55% by end July 2021 and to below 25% by December 2021.
2021-07-02

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.