The Central Bank of Zambia left its key interest rate steady at 8.5% at its May 2021 meeting, to support financial stability and growth, allowing the last rate adjustment to take full effect on the economy. The real GDP is seen recovering faster than earlier projected on the back of strong performance in information & communication, electricity, education and public administration. The inflation should remain above the upper bound of the 6-8% target range over the next eight quarters, but inflationary pressures are now expected to subside more quickly than envisaged in February's meeting on account of a good crop harvest, higher copper prices and improved external financing. Inflation is estimated to average 21.9% and 16.7% in 2021 and 2022, respectively. Finally, the Bank stressed that the implementation of fiscal adjustment measures in line with the Economic Recovery Programme and understandings reached in discussions with the IMF remain critical to anchor macroeconomic stability. source: Bank of Zambia
Interest Rate in Zambia averaged 15.96 percent from 2001 until 2021, reaching an all time high of 68.40 percent in March of 2001 and a record low of 3.90 percent in April of 2010. This page provides - Zambia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Zambia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Interest Rate in Zambia is expected to be 8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Zambia to stand at 9.00 in 12 months time. In the long-term, the Zambia Interest Rate is projected to trend around 8.50 percent in 2022 and 8.00 percent in 2023, according to our econometric models.