The National Bank of Rwanda kept its key interest rate unchanged at 4.5% during its February 2021 meeting. Policymakers said the current stance was still appropriate considering that inflation is projected to evolve below the medium-term target of 5% in 2021, and acknowledging the need to support the economic recovery. The bank said that short-term indicators point to a gradual recovery in the second half of 2020, which is expected to continue in 2021, supported by policy interventions to revive business activities, despite the uncertainty around COVID-19. The headline inflation is projected to be around the lower bound of 2% in 2021 owing to subdued inflationary pressures. source: National Bank of Rwanda

Interest Rate in Rwanda averaged 6.97 percent from 2005 until 2021, 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 May of 2021.

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 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 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
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%
2021-02-22 03:00 PM 4.5% 4.5% 4.5%
2021-05-24 03:00 PM 4.5%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Rwanda Holds Key Interest Rate at 4.5%
The National Bank of Rwanda kept its key interest rate unchanged at 4.5% during its February 2021 meeting. Policymakers said the current stance was still appropriate considering that inflation is projected to evolve below the medium-term target of 5% in 2021, and acknowledging the need to support the economic recovery. The bank said that short-term indicators point to a gradual recovery in the second half of 2020, which is expected to continue in 2021, supported by policy interventions to revive business activities, despite the uncertainty around COVID-19. The headline inflation is projected to be around the lower bound of 2% in 2021 owing to subdued inflationary pressures.
2021-02-22
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 Interest Rate
In Rwanda interest rates decisions are taken by the National Bank of Rwanda. The official interest rate is the Key Repo Rate.