The central bank of Zambia left its key interest steady at 8.5% on September 1st, to support financial stability and growth, allowing the last rate adjustment to take full effect on the economy. The real GDP is projected to grow by a modest 1.6 percent in 2021 and strengthen over the medium-term, while the inflation rate is expected to decelerate faster than earlier projected but to remain above the 6-8% target range over the next eight quarters. Inflation is estimated to average 22.6 percent, 15.5 percent and 11.9 percent in 2021,2022, and the first half of 2023, respectively. Finally, the bank's governor said an agreement on an IMF lending programme and stronger fiscal adjustment remained critical for Zambia to restore macroeconomic stability. Zambia failed to keep up with international debt servicing payments in November, becoming the first African nation to default on its debt in the pandemic-era. source: Bank of Zambia
Interest Rate in Zambia averaged 15.84 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 October of 2021.
Interest Rate in Zambia is expected to be 8.50 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.