The Central Bank of Lesotho held its benchmark interest rate at 3.50% during its November meeting, to allow the impact of previous cuts and measures to flow through the economy. The Committee projected that the domestic economy will contract by 6% in 2020 due to the economic fallout of the coronavirus pandemic and it is expected to recover gradually and grow at an average rate of 4.33% over the 2021/2022 period on the back of a rebound in mining and construction, as well as a broad-based recovery as the COVID-19 containment measures are gradually lifted. Meantime, inflation is seen at 5% in 2020 before increasing to 5.2% in 2021 and 5.3% in 2022. source: Central Bank of Lesotho
Interest Rate in Lesotho averaged 9.17 percent from 1980 until 2020, reaching an all time high of 20.42 percent in December of 1990 and a record low of 3.50 percent in July of 2020. This page provides - Lesotho Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lesotho Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Interest Rate in Lesotho is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Lesotho to stand at 3.00 in 12 months time. In the long-term, the Lesotho Interest Rate is projected to trend around 3.00 percent in 2021, according to our econometric models.