Key data points
Last release
—
Observation period
Apr 2024
Next release
—
Forecast
—
Highest
5.50% on Sep 30, 2019
Lowest
1.75% on Apr 30, 2024
About Seychelles interest rate
In January 2019, the Central Bank of Seychelles' monetary policy framework transitioned from reserve money targeting to an interest rate-based framework whereby the focus of monetary policy shifted from indirectly influencing the intermediate target of money supply growth to guiding short term interest rates. This was done through the introduction of a Monetary Policy Rate (MPR). Until then, the Central Bank of Seychelles did not define a benchmark interest rate.
Related indicators
Frequently Asked Questions
Seychelles interest rate is 1.75% at the moment.
Last month Seychelles interest rate was 1.75%, and the month before that it amounted to 2%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.