PrintZimbabwe Cuts Key Interest Rate to 30% After US-Iran Peace Deal
BY MT Newswires | ECONOMIC | 07:03 PM EDT07:03 PM EDT, 06/15/2026 (MT Newswires) -- Zimbabwe's central bank cut its benchmark interest rate to 30% from 35%, becoming the first central bank globally to ease monetary policy after the US and Iran reached an interim peace deal to reopen the Strait of Hormuz, Bloomberg reported Monday.
Governor John Mushayavanhu said the monetary policy committee expects lower oil prices following the agreement to help sustain a decline in inflation.
Annual inflation slowed to 4.4% in May from 4.8% in April.
"The MPC expressed optimism that promising signals from the US-Iran peace deal, which precipitated a fall in Brent crude oil prices, would sustain the declining trend in prices," Mushayavanhu said.
The central bank forecasts Zimbabwe's economy will grow 5% in 2026, following a revised growth estimate of 8.2% for 2025.
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