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.
Interest Rate in Lesotho averaged 9.28 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 October of 2020.
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.