The Central Bank of Zambia left its key interest rate at 9% at its May 2022 meeting, citing the continued deceleration in inflation and its projected further decline towards the target range of 6-8% by the end of 2023. Policymakers noted that headline inflation softened to a 2-1/2-year low of 11.5% in April of 2022 from 13.1% in March, reflecting a slowdown in some food prices and lagged effects of kwacha appreciation. Inflation is projected to trend towards single-digit, by averaging 12.5% in 2022, before declining to 8.9% in 2023. Underlying these projections are mostly the effects of enhanced fiscal consolidation and the resolution of external debt overhang, supported by an International Monetary Fund Extended Credit Facility. Meanwhile, high-frequency indicators suggest a slowdown in economic activity in the first quarter, with the economy expected to grow moderately in the medium-term. The bank kept its growth forecasts unchanged at 3.5% in 2022, 3.6% in 2023 and 3.9% in 2024. source: Bank of Zambia
Interest Rate in Zambia averaged 15.68 percent from 2001 until 2022, 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 June of 2022.
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 9.50 percent in 2023 and 9.00 percent in 2024, according to our econometric models.