The Central Bank of Lesotho held its benchmark interest rate at 3.50% during its November meeting, to allow the impact of previous cuts and measures to flow through the economy. The Committee projected that the domestic economy will contract by 6% in 2020 due to the economic fallout of the coronavirus pandemic and it is expected to recover gradually and grow at an average rate of 4.33% over the 2021/2022 period on the back of a rebound in mining and construction, as well as a broad-based recovery as the COVID-19 containment measures are gradually lifted. Meantime, inflation is seen at 5% in 2020 before increasing to 5.2% in 2021 and 5.3% in 2022. source: Central Bank of Lesotho

Interest Rate in Lesotho averaged 9.17 percent from 1980 until 2020, reaching an all time high of 20.42 percent in December of 1990 and a record low of 3.50 percent in July of 2020. This page provides - Lesotho Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lesotho Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.

Interest Rate in Lesotho is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Lesotho to stand at 3.00 in 12 months time. In the long-term, the Lesotho Interest Rate is projected to trend around 3.00 percent in 2021, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Lesotho Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.50 20.42 3.50 1980 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-05-26 10:00 AM May 3.75% 4.25%
2020-07-28 03:30 PM Jul 3.50% 3.75% 3.75%
2020-09-29 02:00 PM Sep 3.50% 3.50% 3.50%
2020-11-24 04:00 PM Nov 3.50% 3.50% 3.50%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Lesotho Leaves Key Interest Rate at 3.5%
The Central Bank of Lesotho held its benchmark interest rate at 3.50% during its November meeting, to allow the impact of previous cuts and measures to flow through the economy. The Committee projected that the domestic economy will contract by 6% in 2020 due to the economic fallout of the coronavirus pandemic and it is expected to recover gradually and grow at an average rate of 4.33% over the 2021/2022 period on the back of a rebound in mining and construction, as well as a broad-based recovery as the COVID-19 containment measures are gradually lifted. Meantime, inflation is seen at 5% in 2020 before increasing to 5.2% in 2021 and 5.3% in 2022.
2020-11-24
Lesotho Holds Key Interest Rate at 3.5%
The Central Bank of Lesotho held its benchmark interest rate at 3.50 percent during its September meeting, after cutting it by 275 basis points over the past six months, aiming to mitigate the effects of the COVID-19 shock and maintain macroeconomic stability. Policymakers also said the economy is projected to recover gradually in the medium-term and grow at an average growth rate of 4.6 percent over the period 2021-2022, while inflation is projected to register 5.1 percent in 2020 before increasing to 5.2 percent and 5.4 percent in 2021 and 2022, respectively.
2020-09-29
Lesotho Cuts Key Interest Rate to Fresh Record Low of 3.5%
The Central Bank of Lesotho slashed its policy rate by 25 bps to 3.50% during it July 2020 meeting. The move follows a 50 bps cut in the May meeting, bringing borrowing costs to its lowest level on record. Policymakers noted that the annual inflation rate rose to 4.9% in June from 4% in May and it is expected to be at 4.2% in 2020 before increasing to 4.7% in 2021 and 5.2% in 2022. The Committee projected that the domestic economy will contract by 5.7% in 2020 due to the economic fallout of the coronavirus pandemic and it is expected to recover gradually and grow at an average rate of 5.1% over the 2021/2022 period on the back of a rebound in mining and construction. Policymakers said that will continue to monitor the global developments and the impact on the domestic market, in particular net international reserves, with the aim of taking actions if needed.
2020-07-28
Lesotho Slashes Interest Rate to 3.75%
The Central Bank of Lesotho cut its policy rate by 50 bps to 3.75% during its May 2020 meeting, after slashing it by 100 bps during an extraordinary meeting held in April. The decision was based on the latest international, regional, and domestic economic developments and financial markets’ conditions in the wake of the Covid-19 outbreak. Policymakers noted that global economic activity has been under pressure due to the global spread of the pandemic and associated control measures to contain it. Domestically, growth also remained weak, and the economy is expected to shrink by 5.7% in 2020. Meantime, inflation continued to decelerate to a near two-year low of 4% in March. The Committee added that main risks to the economic outlook include the possible spread of the pandemic and related control measures, exposure to international economic developments, domestic structural rigidities and policy uncertainty.
2020-05-26

Lesotho Interest Rate
In Lesotho, benchmark interest rates are set by the Monetary Policy Committee (MPC) of the Central Bank of Lesotho (CBL). The official interest rate since December 2015 is the Central Bank Policy Rate, which replaced the 91-day Treasury Bill (TB) rate.