The Central Bank of Lesotho cut its policy rate by 50 bps to 3.75% during its May 2020 meeting, after slashing it by 100 bps during an extraordinary meeting held in April. The decision was based on the latest international, regional, and domestic economic developments and financial markets’ conditions in the wake of the Covid-19 outbreak. Policymakers noted that global economic activity has been under pressure due to the global spread of the pandemic and associated control measures to contain it. Domestically, growth also remained weak, and the economy is expected to shrink by 5.7% in 2020. Meantime, inflation continued to decelerate to a near two-year low of 4% in March. The Committee added that main risks to the economic outlook include the possible spread of the pandemic and related control measures, exposure to international economic developments, domestic structural rigidities and policy uncertainty.

Interest Rate in Lesotho averaged 9.49 percent from 1980 until 2020, reaching an all time high of 20.42 percent in December of 1990 and a record low of 3.75 percent in May 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 June 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 3.25 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.

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Lesotho Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.75 4.25 20.42 3.75 1980 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-09-25 08:40 AM Sep 6.5% 6.5% 6.5%
2019-11-27 10:25 AM Nov 6.5% 6.5% 6.25%
2020-01-30 10:30 AM Jan 6.25% 6.5%
2020-05-26 10:00 AM May 3.75% 4.25%
2020-07-28 10:00 AM Jul 3.75% 3.75%
2020-09-29 10:00 AM Sep 3.50%
2020-11-24 10:00 AM Nov 3.50%


News Stream
Lesotho Slashes Interest Rate to 3.75%
The Central Bank of Lesotho cut its policy rate by 50 bps to 3.75% during its May 2020 meeting, after slashing it by 100 bps during an extraordinary meeting held in April. The decision was based on the latest international, regional, and domestic economic developments and financial markets’ conditions in the wake of the Covid-19 outbreak. Policymakers noted that global economic activity has been under pressure due to the global spread of the pandemic and associated control measures to contain it. Domestically, growth also remained weak, and the economy is expected to shrink by 5.7% in 2020. Meantime, inflation continued to decelerate to a near two-year low of 4% in March. The Committee added that main risks to the economic outlook include the possible spread of the pandemic and related control measures, exposure to international economic developments, domestic structural rigidities and policy uncertainty.
2020-05-26
Lesotho Cuts Interest Rate to 6.25%
The Central Bank of Lesotho slashed its policy rate by 25 bps to 6.25% during its January 2020 meeting. Policymakers said that economic growth remained sluggish while consumer price inflation quickened to 4.8 percent in December from 4.6 percent in the previous month, and added that main risks to the domestic economic outlook include exposure to international developments, domestic structural rigidities and policy uncertainty. At the same time, the bank noted that gross international reserves fell in the third quarter of 2019 and lowered the target floor for its international reserves to USD 630 million from USD 790 million, to preserve the peg between the Loti and the Rand.
2020-01-30
Lesotho Holds Interest Rate Steady at 6.5%
The Central Bank of Lesotho left unchanged its key policy rate at 6.5% during its November meeting. Policymakers noted that consumer price inflation decelerated in October 2019 while growth remained weak, and affirmed that main risks to the domestic economic outlook include exposure to global economic developments, weak domestic economic activity on the back of structural rigidities and policy uncertainty. Meantime, the bank said that will continue to monitor the global developments and their likely impact on domestic macroeconomic conditions, especially net international reserves, with the aim of taking corrective action when needed.
2019-11-27
Lesotho Keeps Interest Rate at 6.5%
The Central Bank of Lesotho left unchanged its key policy rate at 6.5% during its September meeting. Policymakers noted that consumer price inflation decelerated in August while economic growth remained weak, and mentioned that main risks to the domestic economic outlook include exposure to global economic developments, weak domestic economic activity, structural rigidities and policy uncertainty. Furthermore, the bank said that will continue to monitor the global developments and their likely impact on domestic macroeconomic conditions, especially net international reserves, with the aim of taking corrective action when needed.
2019-09-25

Lesotho Interest Rate
In Lesotho, benchmark interest rates are set by the Monetary Policy Committee (MPC) of the Central Bank of Lesotho (CBL). The official interest rate since December 2015 is the Central Bank Policy Rate, which replaced the 91-day Treasury Bill (TB) rate.