The Central Bank of The Gambia kept its benchmark interest rate unchanged at 10% during its May 2021 meeting to continue supporting the economy's recovery from the pandemic blow. Policymakers said that economic activity is expected to have contracted 0.2 percent in 2020, compared to an earlier estimate of zero growth reflecting weaker domestic and foreign demand. In 2021, the domestic economy is predicted to grow 4.1 percent as some of the lockdown measures were relaxed to allow movements of persons, goods, and services. Meanwhile, the near-term inflation forecast predicts underlying inflationary pressures building up since the beginning of 2021. Consequently, headline inflation is forecast to be above the medium-term target for the forecast period. source: Central Bank of The Gambia
Interest Rate in Gambia averaged 18.13 percent from 2002 until 2021, reaching an all time high of 34 percent in September of 2003 and a record low of 10 percent in May of 2020. This page provides the latest reported value for - Gambia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Gambia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Interest Rate in Gambia is expected to be 10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Gambia to stand at 9.50 in 12 months time. In the long-term, the Gambia Interest Rate is projected to trend around 9.00 percent in 2022, according to our econometric models.