Algeria policy interest rate
Taux directeur de la Banque d'Algérie — the interest rate applied to the main refinancing operations (opérations principales de refinancement, 7-day), the signal rate of the monetary policy stance. Fixed by the Conseil de la Monnaie et du Crédit under the Ordonnance n° 03-11 du 26 août 2003 relative à la monnaie et au crédit (modified and completed) and published by the Bank as a month-end series in 'Principaux taux du marché monétaire'.
| Current value | 2.5 percent |
|---|---|
| In force from | 2026-01-01 |
| Official source | Banque d'Algérie — Indicateurs associés aux opérations de politique monétaire, tableau 'Principaux taux du marché monétaire' et fichier de série mensuelle 'principaux-taux-du-marche-monetaire-05-2026.xlsx' (janvier 2002 – mai 2026, dernière observation mai 2026, marquée '(*) les derniers taux en vigueur'): Taux Directeur 2,50 % à partir de janvier 2026 |
| Last verified | 2026-07-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
CORRECTION TO THE BRIEF THAT COMMISSIONED THIS FILE: the brief assumed Algeria's policy rate 'moves infrequently' and might have been unchanged for years. The Bank's own monthly series shows the opposite — the taux directeur has been cut TWICE in the last twelve months: 3.00% → 2.75% with effect from September 2025, then 2.75% → 2.50% with effect from January 2026. Before that it had indeed been frozen at 3.00% for five and a quarter years (May 2020 – August 2025). Full published history of the taux directeur (the Bank's series only begins publishing this column in March 2017): 3.50% from Mar 2017; 3.25% from Mar 2020; 3.00% from May 2020; 2.75% from Sep 2025; 2.50% from Jan 2026. THE LOOKALIKE TRAP: the 'taux de réescompte' (rediscount rate) is a DIFFERENT instrument and is 3.75%, unchanged since May 2017 — it is frequently mis-served as Algeria's policy rate. The corridor around the 2.50% policy rate is asymmetric: taux de la facilité de dépôt 0.00%, taux de la facilité de prêt marginal 4.50%. Reserve requirements: base rate 1%, remuneration 0.00%, penalty 4.00% (all since Sep 2025; remuneration was 0.50% and penalty 4.50% until Aug 2025). GRANULARITY / ACCESS WARNING: the Banque d'Algérie does NOT publish dated rate-decision communiqués — its /communiques/ page carries only institutional news, and the 'Notes de conjoncture' section stops at 2023 — so the precise in-month date of the Conseil de la Monnaie et du Crédit decision is not public. The only official publication of the rate is this month-end statistical series, hence effective_from is dated to the first day of the first month at the new level. The series file is refreshed monthly with roughly a one-month lag (the May 2026 file was posted in June 2026). Algeria also operates a managed exchange rate for the dinar, so the policy rate is not the sole or even primary policy lever.
Earlier values
| From | Value | Source |
|---|---|---|
| 2017-03-01 | 3.5 | Banque d'Algérie — 'Principaux taux du marché monétaire', sé |
| 2020-03-01 | 3.25 | Banque d'Algérie — 'Principaux taux du marché monétaire', sé |
| 2020-05-01 | 3 | Banque d'Algérie — 'Principaux taux du marché monétaire', sé |
| 2025-09-01 | 2.75 | Banque d'Algérie — 'Principaux taux du marché monétaire', sé |
Get it programmatically
curl https://afriref.dev/v1/dz/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://afriref.dev/v1/dz/policy-rate/history?from=2020-01-01
# Provenance: curl https://afriref.dev/provenance/dz/policy-rateOther Algeria series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates