The National Bank of Rwanda left its key repo rate unchanged at 4.5 percent during its November 2020 meeting. Policymakers said the current stance was appropriate considering that inflation is projected to decelerate from the last quarter of the year onwards and the economy is seen recovering in the third quarter of 2020. The decision also aims to provide support to commercial banks to continue financing businesses and households affected by the pandemic crisis. source: National Bank of Rwanda

Interest Rate in Rwanda averaged 7.02 percent from 2005 until 2020, reaching an all time high of 9 percent in September of 2005 and a record low of 4.50 percent in March of 2020. This page provides the latest reported value for - Rwanda Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Rwanda Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.

Interest Rate in Rwanda is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Rwanda to stand at 4.00 in 12 months time. In the long-term, the Rwanda Interest Rate is projected to trend around 4.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.

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Rwanda Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.50 9.00 4.50 2005 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-02-07 09:30 AM 5% 5% 4.5%
2020-04-30 11:20 AM 4.5% 5% 5%
2020-08-13 08:25 AM 4.5% 4.5% 4.5%
2020-11-12 08:15 AM 4.5% 4.5% 4%


News Stream
Rwanda Leaves Key Interest Rate Steady at 4.5%
The National Bank of Rwanda left its key repo rate unchanged at 4.5 percent during its November 2020 meeting. Policymakers said the current stance was appropriate considering that inflation is projected to decelerate from the last quarter of the year onwards and the economy is seen recovering in the third quarter of 2020. The decision also aims to provide support to commercial banks to continue financing businesses and households affected by the pandemic crisis.
2020-11-12
Rwanda Holds Key Interest Rate at 4.5%
The National Bank of Rwanda left its key repo rate unchanged at 4.5 percent during its August 2020 meeting. Policymakers said the current stance was appropriate considering that inflation is projected to decelerate in the last quarter of the year and the economy is seen picking up in the second hallf of 2020. In addition, the decision aims to provide support to commercial banks to continue financing businesses and households affected by the pandemic crisis.
2020-08-13
Rwanda Cuts Key Interest Rate to 4.5%
The National Bank of Rwanda lowered its key repo rate by 50 bps to 4.5% during its April 2020 meeting, to protect the economy against the effects of the coronavirus pandemic. Policymakers said that the decision, along with other implemented policy measures taken in March will support commercial banks to continue financing the economy. The Committee noted that the Covid-19 outbreak in mid- March led to a significant slowdown in the services and industry sectors. Meanwhile, due to the significant decline in aggregate demand, inflation is seen decelerating to an average of 6% and 1% in 2020 and 2021, respectively.
2020-04-30
Rwanda Leaves Key Rate Steady at 5%
The National Bank of Rwanda held its key repo rate steady at 5 percent during its February 2020 meeting, with the main purpose of continuing to support domestic demand amid low inflation. Urban inflation rate, the one at which the central bank looks in its policy decisions, dropped to 6.7 percent, after hitting an over 2-year high of 6.9 percent in November, and it is projected to remain within the benchmark band throughout 2020, despite going slightly above the 5 percent target. Policymakers also said that short-term indicators point to a sustained economic growth in the fourth quarter of 2019 and in 2020 at an average of 8.1 percent, boosted by manufacturing and tourism.
2020-02-07

Rwanda Interest Rate
In Rwanda interest rates decisions are taken by the National Bank of Rwanda. The official interest rate is the Key Repo Rate.