Ethiopia policy interest rate
National Bank of Ethiopia (NBE) policy interest rate — the National Bank Rate (NBR) — the primary signalling tool of the interest-rate-based monetary policy framework launched in July 2024, with a +/- 3 percentage-point interest-rate corridor. Set by the Monetary Policy Committee (MPC).
| Current value | 16 percent |
|---|---|
| In force from | 2026-07-13 |
| Official source | National Bank of Ethiopia — Monetary Policy Committee Meeting No. 7 (13 July 2026) |
| Last verified | 2026-07-15 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
First change since the NBR was introduced at 15% in July 2024. At MPC Meeting No. 7 (13 Jul 2026) the Committee raised the policy rate by 1.0 percentage point 'while maintaining the +/- 3 percentage point band unchanged' and fully removed the commercial-bank credit-growth cap, transitioning fully to interest-rate-based policy. Driven by headline inflation rising to 13.4% in May 2026 (from 9.7% in Dec 2025). The NBE own primary sources (mpc7 press release; monetary-policy framework page) confirm the base 15% and the +1.0pp move; the resulting 16% figure is corroborated by Bloomberg and local press. The rate is legally implemented via NBE Interest Rates Directive No. NBE/INT/13/2026 (as amended), https://nbe.gov.et/wp-content/uploads/2026/01/DIRECTIVE-NO.NBE-INT-13-2026-INTEREST-RATES-AS-AMENDED-.pdf (that PDF did not render cleanly for text extraction — verify wording at source). MPC meets roughly quarterly; next decision ~Q4 2026.
Earlier values
| From | Value | Source |
|---|---|---|
| 2024-07-09 | 15 | National Bank of Ethiopia — Announcement of the launch of a |
Get it programmatically
curl https://afriref.dev/v1/et/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://afriref.dev/v1/et/policy-rate/history?from=2020-01-01
# Provenance: curl https://afriref.dev/provenance/et/policy-rateOther Ethiopia series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates