The Reserve Bank of Zimbabwe lifted its overnight lending rate to 35% from 15% during an unscheduled meeting in June of 2020, aiming to curb inflationary pressures and stabilize the exchange rate amid the continued devaluation of the currency. Headline inflation climbed to 785.55% in May from 765.57% in the previous month, linked to shortages of fuel and foreign currency.
Interest Rate in Zimbabwe averaged 34.12 percent from 2019 until 2020, reaching an all time high of 70 percent in September of 2019 and a record low of 15 percent in March of 2019. This page provides the latest reported value for - Zimbabwe Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Zimbabwe Interest Rate - values, historical data and charts - was last updated on July of 2020.
Interest Rate in Zimbabwe is expected to be 35.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Zimbabwe to stand at 70.00 in 12 months time. In the long-term, the Zimbabwe Interest Rate is projected to trend around 70.00 percent in 2021 and 50.00 percent in 2022, according to our econometric models.