The benchmark interest rate in Gambia was last recorded at 10 percent. source: Central Bank of The Gambia

Interest Rate in Gambia averaged 18.35 percent from 2002 until 2020, reaching an all time high of 34 percent in September of 2003 and a record low of 10 percent in May of 2020. This page provides the latest reported value for - Gambia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Gambia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Interest Rate in Gambia is expected to be 10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Gambia to stand at 9.50 in 12 months time. In the long-term, the Gambia Interest Rate is projected to trend around 9.50 percent in 2021 and 9.00 percent in 2022, according to our econometric models.

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Gambia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.00 10.00 34.00 10.00 2002 - 2020 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-11-28 03:50 PM 12.5% 12.5% 12.5%
2020-02-28 03:00 PM 12% 12.5% 12.5%
2020-05-29 03:00 PM 10% 12% 11.5%
2020-11-27 10:00 AM 10% 10%

News Stream
Gambia Cuts Key Interest Rate to 10%
The Central Bank of The Gambia slashed its benchmark interest rate by 200bps to 10 percent during its May 2020 meeting as policymakers try to protect the economy from the devastating impact of the coronavirus pandemic The GDP is projected to contract 1.2 percent in 2020 reflecting the disruptive effect of the pandemic, particularly on Tourism and related activities, trade, and private investment. Meanwhile, inflation is expected to remain subdued.
Gambia Cuts Policy Interest Rate to 12%
The Central Bank of The Gambia lowered its benchmark interest rate by 50bps to 12 percent during its February meeting, as policymakers voiced concerns about potential shocks to agriculture due to weather-related factors as a result of climate change, and risks to the global economy amid the coronavirus outbreak. At the same time, the central bank noted that inflation rate slowed in January and will continue to trend downwards in the near-term.
Gambia Holds Key Interest Rate at 12.5%
The Central Bank of Gambia kept its key policy rate unchanged at 12.5 percent during its November meeting. Policymakers noted that headline inflation decelerated to 7.5 percent in October 2019 from 7.6 percent in September, mainly due to a slowdown in non-food prices; and it is expected to continue trend downwards in the medium-term. Meantime, economic growth is projected to remain robust in 2019, supported by the services sector. Also, foreign reserves were at comfortable levels. Still, the bank mentioned that major risks to the outlook continue to be the domestic food supply situation in the light of poor harvest; the impact of the shock to tourism as a result of the collapse of Thomas Cook; the uncertainty surrounding global food prices and high public debt.

Gambia Interest Rate
In Gambia, interest rates decisions are taken by the Central Bank of Gambia’s Monetary Policy Committee in its Monetary Policy Meetings. The CBG’s official interest rate is the policy rate.