The Reserve Bank of Zimbabwe announced that kept unchanged its overnight lending rate at 35% in its mid-term monetary policy statement in August of 2020, as part of the continued efforts to reduce excess liquidity that could be used to buy foreign currency and put pressure on the local currency. Headline inflation climbed further to 837.5% in July of 2020 from 737.3% in June as the global pandemic aggravated structural issues, such as shortages of fuel and food and a collapsing currency.
Interest Rate in Zimbabwe averaged 34.21 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 October 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.