The Central Bank of Zambia raised its key interest rate by 50 bps to 9% at its November 2021 meeting. It was the first rate hike since February, to anchor inflation expectations, while supporting economic growth and financial stability. The Committee said that although inflation would decelerate sharply over the next eight quarters, it is likely to remain above the upper bound of the 6-8% target range. Zambia’s annual inflation eased to 21.1% in October from 22.1% in September and down from a peak above 24% in June; and it is projected to average 22.6% in 2021, before declining to 15% in 2022 and 9.3% in the first three quarters of 2023. The bank raised its growth projections for 2021 to 3.3%, from a modest 1.6% in September, on the back of strong performance in agriculture, information & communication and wholesale and retail trade. In 2022 and 2023, growth is expected to rise to 3.5% and 3.7%, respectively. source: Bank of Zambia
Interest Rate in Zambia averaged 15.79 percent from 2001 until 2021, reaching an all time high of 68.40 percent in March of 2001 and a record low of 3.90 percent in April of 2010. This page provides - Zambia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Zambia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
Interest Rate in Zambia is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zambia Interest Rate is projected to trend around 9.00 percent in 2022, according to our econometric models.