The benchmark interest rate in Zimbabwe was last recorded at 200 percent. source: Reserve Bank of Zimbabwe

Interest Rate in Zimbabwe averaged 49.17 percent from 2019 until 2022, reaching an all time high of 200 percent in June of 2022 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 - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Interest Rate in Zimbabwe is expected to be 200.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zimbabwe Interest Rate is projected to trend around 50.00 percent in 2023 and 40.00 percent in 2024, according to our econometric models.

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Zimbabwe Interest Rate

Related Last Previous Unit Reference
Interest Rate 200.00 200.00 percent Jul 2022
Money Supply M1 895379519.00 614481641.00 USD Thousands May 2022
Money Supply M2 965378340.00 667125677.00 USD Thousands May 2022
Money Supply M3 971543684.00 671372605.00 USD Thousands May 2022
Deposit Interest Rate 32.00 30.00 percent May 2022
Lending Rate 85.00 85.00 percent May 2022
Banks Balance Sheet 1456705.70 946471.10 USD Million May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
200.00 200.00 200.00 15.00 2019 - 2022 percent Daily

News Stream
Zimbabwe Hikes Key Rate to 200%
The central bank of Zimbabwe raised its key policy rate to a record high of 200% from 80% on June 27th 2022, saying the increase in inflation was undermining consumer demand and confidence and that, if not controlled, it would reverse the significant economic gains achieved over the past two years. The inflation rate in Zimbabwe surged to 191.6% in June from 131.7% in May. The decision will take effect from July 1st.
Zimbabwe Lifts Key Interest Rate to 80%
The Reserve Bank of Zimbabwe raised its overnight lending rate by 200bps to a record high of 80% during a monetary policy meeting held in April of 2022, citing the negative impact of the ongoing Russia-Ukraine conflict on domestic prices and the currency. The Committee was concerned with the escalation in annual inflation to 72.70% in March of 2022, from 66.11% in the prior month. The bank said that rising prices of oil, gas, fertilizers and other related products had the effect of increasing global inflation and inevitably had a negative impact on domestic costs of production and was destabilizing the foreign exchange market. The Zimbabwean dollar has lost nearly two-thirds of its value against the greenback since the last hike, in part due to monetary tightening in developed markets such as the US and the growing use of the greenback to pay for most transactions amid a lack of confidence in the local currency.
Zimbabwe Keeps Interest Rate at 60%
The Reserve Bank of Zimbabwe decided to leave unchanged its overnight lending rate at 60% during a monetary policy meeting held on February 2022. Policymakers said that the current policy tightening will support the ongoing economic recovery towards a 5.5% growth expected in 2022 and higher potential growth rates in the medium to long term, while also stemming inflationary pressures and anchoring inflation expectations. The annual inflation dropped to 60.6% in January of 2022, from a six-month high of 60.7% in December; while the monthly inflation eased to a four-month low of 5.3%. The bank said that month-on-month inflation is expected to be reduced to below 4% in the first quarter of the year and to average below 3% in the second half of 2022. This path is expected to reduce the country’s annual inflation rate to a range of 25-35% by end of December 2022.