The Reserve Bank of Zimbabwe’s Monetary Policy Committee kept the Bank Policy rate at 35% for the next quarter, saying one year of price and exchange rate stability, low inflation pressures and robust domestic activity justified staying the course to durably anchor stability; the rate was also held at 35% in June 2025. The central bank also left statutory reserve requirements unchanged. Monthly ZiG inflation averaged 0.6% between February and August 2025, and the MPC said annual inflation, which started decelerating in August, should decline more sharply in the third and fourth quarters and trend toward 20% by December 2025, while second-quarter year-on-year growth was estimated at 11%, supported by agriculture and mining. Stronger foreign currency inflows, led by gold and tobacco exports, were said to be improving the current account, supporting the smooth functioning of the Willing Buyer Willing Seller interbank foreign exchange market and lifting reserves to about USD900 million by 25 September 2025 from just over USD700 million at end-June. The MPC said global growth prospects had improved on lower effective trade tariff rates and better financial conditions, and it will continue to review its policy stance in line with evolving domestic and external risks to inflation and growth.
Reserve Bank of Zimbabwe2025-09-26
Reserve Bank of Zimbabwe Holds Bank Policy Rate at 35%
The Reserve Bank of Zimbabwe’s Monetary Policy Committee left the Bank Policy rate unchanged at 35% for the next quarter and maintained statutory reserve requirements, citing one year of price and exchange rate stability, low inflation pressures and robust domestic activity. The committee said monthly ZiG inflation averaged 0.6% between February and August 2025, annual inflation should trend toward 20% by December 2025, second-quarter year-on-year growth was estimated at 11%, and reserves rose to about USD900 million by 25 September 2025 from just over USD700 million at end-June.