The benchmark interest rate in Rwanda was last recorded at 4.50 percent.

Interest Rate in Rwanda averaged 7.04 percent from 2005 until 2020, reaching an all time high of 9 percent in September of 2005 and a record low of 4.50 percent in March of 2020. This page provides the latest reported value for - Rwanda Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Rwanda Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Bank of Rwanda

Interest Rate in Rwanda is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Rwanda to stand at 3.50 in 12 months time. In the long-term, the Rwanda Interest Rate is projected to trend around 3.50 percent in 2021, according to our econometric models.

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Rwanda Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.50 9.00 4.50 2005 - 2020 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-11-15 09:30 AM 5% 5% 5%
2020-02-07 09:30 AM 5% 5% 4.5%
2020-04-30 11:20 AM 4.5% 5% 5%
2020-08-13 08:25 AM 4.5% 4.5% 4.5%
2020-11-02 09:00 AM 4.5%

News Stream
Rwanda Holds Key Interest Rate at 4.5%
The National Bank of Rwanda left its key repo rate unchanged at 4.5 percent during its August 2020 meeting. Policymakers said the current stance was appropriate considering that inflation is projected to decelerate in the last quarter of the year and the economy is seen picking up in the second hallf of 2020. In addition, the decision aims to provide support to commercial banks to continue financing businesses and households affected by the pandemic crisis.
Rwanda Cuts Key Interest Rate to 4.5%
The National Bank of Rwanda lowered its key repo rate by 50 bps to 4.5% during its April 2020 meeting, to protect the economy against the effects of the coronavirus pandemic. Policymakers said that the decision, along with other implemented policy measures taken in March will support commercial banks to continue financing the economy. The Committee noted that the Covid-19 outbreak in mid- March led to a significant slowdown in the services and industry sectors. Meanwhile, due to the significant decline in aggregate demand, inflation is seen decelerating to an average of 6% and 1% in 2020 and 2021, respectively.
Rwanda Leaves Key Rate Steady at 5%
The National Bank of Rwanda held its key repo rate steady at 5 percent during its February 2020 meeting, with the main purpose of continuing to support domestic demand amid low inflation. Urban inflation rate, the one at which the central bank looks in its policy decisions, dropped to 6.7 percent, after hitting an over 2-year high of 6.9 percent in November, and it is projected to remain within the benchmark band throughout 2020, despite going slightly above the 5 percent target. Policymakers also said that short-term indicators point to a sustained economic growth in the fourth quarter of 2019 and in 2020 at an average of 8.1 percent, boosted by manufacturing and tourism.
Rwanda Holds Key Interest Rate at 5%
The National Bank of Rwanda left its key repo rate steady at 5% during its November 2019 meeting, to continue supporting the financing of the economy and growing domestic demand. Policymakers noted that inflation remained low; but is expected to pick up to 2.3% in 2019 from 1.4% in 2018, before reaching 5% in 2020, though remaining within the target band of 2-8%. The economy grew 12.2% in Q2 2019, the most since Q1 2009, from 8.4% in the previous period, and is projected to expand 8.5% in 2019 and 8.1% in 2020. The Committee also disclosed that bank lending picked up in the first three quarters of 2019 amid increased demand for credit. The exchange rate depreciation was sharper in the first ten months of the year over a year ago, and it is estimated at 4.8% by the end of 2019, slightly below an initial projection of 5.1%.

Rwanda Interest Rate
In Rwanda interest rates decisions are taken by the National Bank of Rwanda. The official interest rate is the Key Repo Rate.