The National Bank of Rwanda left its key interest rate unchanged at 5% during a meeting held in May of 2022, citing heightened risks from the ongoing conflict in Ukraine. Policymakers noted that the Rwandan economy continues to recover from the recession caused by the Covid-19 pandemic, helped by massive vaccination, government policies and an accommodative monetary policy. The economic growth should remain strong in the second quarter of 2022 but lower than 7.2% initially projected, amid reduced private consumption and unfavorable weather conditions. Meanwhile, headline inflation is projected at 9.2% in 2022, above the upper band of 8%, before decelerating towards the medium-term target of 5% in the second half of 2023. source: National Bank of Rwanda
Interest Rate in Rwanda averaged 6.80 percent from 2005 until 2022, reaching an all time high of 9 percent in September of 2005 and a record low of 4.50 percent in March of 2020. This page provides the latest reported value for - Rwanda Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Rwanda Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
Interest Rate in Rwanda is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Rwanda Interest Rate is projected to trend around 5.50 percent in 2023 and 4.50 percent in 2024, according to our econometric models.