This page tracks the cost of borrowing in Lesotho from the Central Bank of Lesotho's Monthly Economic Review. In July 2026, the prime lending rate was 10.25%, the policy rate 6.75% and the 91-day Treasury bill rate 7.02%. The Central Bank last raised its policy rate in May 2026, from 6.50% to 6.75%.
Latest review: . Last updated 13 October 2026. Updated monthly. Source: Central Bank of Lesotho.
Next update: the August 2026 Monthly Economic Review, usually published six to ten weeks after the month ends.
Prime lending rate, July 2026
10.25%
Policy rate 6.75%
Real prime rate
7.4%
Prime minus inflation, July 2026
Prime since October 2023
−1.00 pts
From 11.25%
91-day Treasury bill, July 2026
7.02%
Government borrowing cost
Published since 13 October 2023. The full dataset for October 2023 to September 2026, with every source document and label, is held in the Data Matrix archive and is available to buy.
Rates since October 2023
Interest rates since October 2023, percent a yearMonthly rate moves, basis points
The real cost of borrowing
A nominal rate says little on its own. Subtracting inflation gives the real rate: what a borrower pays, and a saver earns, after rising prices. The real prime rate was 7.4% in July 2026, compared with 4.8% in October 2023. Borrowing has become more expensive in real terms, because inflation fell faster than interest rates.
Real interest rates: nominal rate minus annual inflation
Every month since October 2023
Interest rates by month, percent a year. Real prime is prime minus annual CPI inflation.
Month
Policy rate
Prime
91-day T-bill
Real prime
Jul 2026
6.75%
10.25%
7.02%
7.35%
Jun 2026
6.75%
10.25%
6.96%
6.55%
May 2026
6.75%
10.25%
6.96%
6.75%
Apr 2026
6.50%
10.00%
6.92%
n/a
Mar 2026
6.50%
10.00%
6.90%
7.80%
Feb 2026
6.50%
10.00%
6.84%
7.30%
Jan 2026
6.50%
10.00%
6.93%
6.60%
Dec 2025
6.50%
10.00%
6.94%
5.90%
Nov 2025
6.50%
10.00%
6.92%
5.70%
Oct 2025
6.75%
10.25%
6.89%
5.75%
Sep 2025
6.75%
10.25%
6.93%
5.55%
Aug 2025
6.75%
10.25%
6.89%
5.65%
Jul 2025
7.00%
10.50%
6.88%
6.10%
Jun 2025
7.00%
10.50%
6.87%
6.20%
May 2025
7.25%
10.75%
6.86%
6.35%
Apr 2025
7.25%
10.75%
6.86%
6.75%
Mar 2025
7.25%
10.75%
6.88%
6.55%
Feb 2025
7.25%
10.75%
6.88%
6.65%
Jan 2025
7.50%
11.00%
6.89%
7.40%
Dec 2024
7.50%
11.00%
6.88%
7.30%
Nov 2024
7.50%
11.00%
6.88%
6.60%
Oct 2024
7.75%
11.25%
6.86%
6.55%
Sep 2024
7.75%
11.25%
6.83%
6.05%
Aug 2024
7.75%
11.25%
6.74%
5.25%
Jul 2024
7.75%
11.25%
6.96%
4.55%
Jun 2024
7.75%
11.25%
6.96%
4.75%
May 2024
7.75%
11.25%
6.93%
4.95%
Apr 2024
7.75%
11.00%
6.59%
3.90%
Mar 2024
7.75%
11.25%
6.78%
3.85%
Feb 2024
7.75%
11.25%
6.93%
3.95%
Jan 2024
7.75%
11.25%
7.09%
3.05%
Dec 2023
7.75%
11.25%
7.12%
4.05%
Nov 2023
7.75%
11.25%
7.12%
4.45%
Oct 2023
7.75%
11.25%
7.41%
4.75%
Methodology
Rates come from the appendix table "Key Economic Indicators" in each Central Bank of Lesotho Monthly Economic Review. Each month takes its value from that month's own review. Some issues repeat an earlier table or are shifted by a month, so Data Matrix compares every new review with the figures already on file and holds it for review if they disagree.
Real rates are calculated by Data Matrix as the nominal rate minus the Bureau of Statistics annual CPI inflation rate for the same month.
Common questions
What is the prime lending rate in Lesotho?
Commercial banks' prime lending rate was 10.25% in July 2026, according to the Central Bank of Lesotho, compared with 11.25% in October 2023.
Who sets the policy rate in Lesotho?
The Central Bank of Lesotho's Monetary Policy Committee sets the policy rate. It was 6.75% in July 2026. Banks set their prime lending rates with reference to it.
What is the real interest rate?
The real rate is the nominal rate minus annual inflation. It shows what borrowing costs after rising prices are taken into account. Data Matrix calculates it from the Central Bank and Bureau of Statistics figures for the same month.
How does this differ from the South African repo rate?
The loti is pegged one to one to the rand in the Common Monetary Area, so the Central Bank of Lesotho usually moves its rate in step with the South African Reserve Bank's repo rate. The two are set separately and are not always at the same level.
Release history
First published, with the Central Bank of Lesotho July 2026 review and monthly history from August 2021.
Moved to the new Data Matrix website with interactive charts and heatmaps. The full October 2023 to September 2026 dataset is available from the Data Matrix archive.
First published by Data Matrix.
Figures are collected automatically from the named official source and published only when they pass consistency checks. The charts and text were prepared by Data Matrix analysts working with frontier AI tools, and reviewed by a person. See how we use AI.
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