The central bank of Macedonia cut its key interest rate by 25bps to 1.5 percent on May 13th 2020, after consumer prices declined for the first time in five months and to support the economy from the Covid-19 shock. The move follows two rate reductions by a similar margin during the January and March meetings and brings borrowing costs to its lowest level since series began in January of 2002. At the same time, the overnight credit rate was also lowered by 25bps to 2 percent while the overnight deposit rate was held steady at 0.15 percent.
Interest Rate in Macedonia averaged 5.43 percent from 2002 until 2020, reaching an all time high of 15.21 percent in December of 2002 and a record low of 1.50 percent in May of 2020. This page provides the latest reported value for - Macedonia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Macedonia Interest Rate - values, historical data and charts - was last updated on August of 2020.
Interest Rate in Macedonia is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Macedonia to stand at 1.00 in 12 months time. In the long-term, the Macedonia Interest Rate is projected to trend around 1.25 percent in 2021 and 1.50 percent in 2022, according to our econometric models.