Algeria Banque d'Algérie policy rate (taux directeur)
Algeria Banque d'Algérie policy rate (taux directeur) is 2.5 percent, in force since 7 Jan 2026. It was 2.75 percent before that. Last checked against the official source on 7 Aug 2026.
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'.
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| Current value | 2.5 percent |
|---|---|
| In force from | 2026-01-07 |
| Official source | Banque d'Algérie, Instruction n°02-2026 du 7 janvier 2026 modifiant et complétant l'instruction n°07-2020 du 29 avril 2020 relative au taux d'intérêt directeur applicable aux opérations principales de refinancement — « Le taux d'intérêt directeur ... est fixé à 2,50% », prend effet à la date de sa signature (7 janvier 2026), signée P.I./Le Gouverneur Mouatassem Boudiaf |
| Last verified | 2026-08-07 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
A COMMON ASSUMPTION, CORRECTED: the common account 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. CITATION UPGRADED (2026-08-07): the previous citation was the Bank's money-market statistics page — the data, not the decision. The operative instrument is Instruction n°02-2026 (PDF fetched from the official BA host and read in full; the BA published no French communiqué for this step). effective_from moves from the statistics table's month notation (2026-01-01) to the instruction's own effect date: signature, 7 January 2026. Path correction: the prior cut was 3.00% → 2.75% by decision of the Conseil monétaire et bancaire of 28 août 2025, implemented by Instruction n°08-2025 du 31 août 2025 — not a 2024 step. The statistics page (bank-of-algeria.dz/statistiques-associees/) remains the corroborating series.
Earlier values
| From | Value | Source |
|---|---|---|
| 2025-09-01 | 2.75 | Banque d'Algérie — 'Principaux taux du marché monétaire'… |
| 2020-05-01 | 3 | Banque d'Algérie — 'Principaux taux du marché monétaire'… |
| 2020-03-01 | 3.25 | Banque d'Algérie — 'Principaux taux du marché monétaire'… |
| 2017-03-01 | 3.5 | Banque d'Algérie — 'Principaux taux du marché monétaire'… |
Get it programmatically
curl https://afriref.dev/v1/dz/policy-rate
# $0.005 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: TVA standard rate (taux normal) · VAT registration threshold · SNMG · Public holidays (fêtes légales) · CPI inflation (year-on-year, national index) · IBS · Withholding tax rates · Statutory default interest (intérêt légal) · IRG · Statutory social-insurance contributions
The same figure elsewhere: Angola · Benin · Botswana · Burkina Faso · Cameroon · all 34