The Reserve Bank of Zimbabwe kept unchanged its overnight lending rate at 35% during its January meeting, amid signs that inflation is beginning to stabilize. Policymakers noted that monthly inflation has been on a downward trajectory since October and ended 2019 at 16.55%, near the bank's target of 15%; and it is expected to continue decelerating before falling to single-digit levels in the first quarter of this year. Accordingly, the annual inflation is seen falling to about 50% by December 2020. The bank also defended that government subsidies, such as the gold incentive, should be financed from the national budget not by the central bank, as that would destabilize exchange rates and ramp up inflation. Finally, it was recognized the need to gradually build up gold and foreign currency reserves to boost confidence in the domestic currency as well as strengthen investor sentiment. Interest Rate in Zimbabwe averaged 37.92 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.

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 35.00 in 12 months time. In the long-term, the Zimbabwe Interest Rate is projected to trend around 25.00 percent in 2020, according to our econometric models.


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Zimbabwe Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
35.00 35.00 70.00 15.00 2019 - 2020 percent Daily


Zimbabwe Interest Rate
The Reserve Bank of Zimbabwe is responsible for the formulation and implementation of monetary policy, directed at ensuring low and stable inflation levels. A further core function of the Bank is to maintain a stable banking system through its supervisory and lender of last resort functions. Its official rate is the interest rate on the Reserve Bank overnight window. Zimbabwe has appointed a monetary policy committee (MPC) at its central bank on September 10th, 2019.

Zimbabwe Money Last Previous Highest Lowest Unit
Interest Rate 35.00 35.00 70.00 15.00 percent [+]
Money Supply M1 21668884.00 17871360.53 21668884.00 216333.00 USD Thousands [+]
Money Supply M2 23331840.00 19491136.30 23331840.00 297563.00 USD Thousands [+]
Money Supply M3 23551730.00 19694065.28 23551730.00 297626.00 USD Thousands [+]
Lending Rate 35.00 35.00 35.00 16.00 percent [+]
Banks Balance Sheet 40886.30 35816.20 40886.30 601.60 USD Million [+]