Zimbabwe Interest Rate

Last Release

Oct 31, 2024

Actual

Units In

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
200 Jun 2022	15 Feb 2019	78.38 %	2019-2024	Reserve Bank of Zimbabwe

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.

Latest Updates

Zimbabwe's central bank announced its decision to maintain the benchmark interest rate at 35% following a meeting held on December 3, 2024, keeping borrowing costs at their highest since March. The central bank said that the MPC resolved to keep the current tight monetary policy stance to ensure that inflation expectations remain well anchored. Monthly consumer inflation eased significantly to 11.7% in November 2024, down from 37.2% in October, largely due to the strengthening of the ZIG currency. The October inflation spike stemmed from the ZIG’s 40% depreciation in late September. In response to current tight liquidity conditions and to support economic growth and the productive sector, the Monetary Policy Committee (MPC) introduced a Targeted Finance Facility (TFF) to be administered through the banking system. The central bank also reaffirmed its commitment to a tight monetary policy stance, which will continue into 2025.