Nepal interest rate
Nepal Rastra Bank
- Policy rate
- 5.75%
- Jul 2026
- Last move
- −0.25 pt
- Dec 2025
- Inflation
- 3.6%
- Mar 2026
- 10-year bond yield
- 6.50%
- Jul 2026
The policy rate set by Nepal Rastra Bank is 5.75% as of Jul 2026. Its most recent move: it cut its rate from 6.00% to 5.75% (Dec 2025). The rate is 0.25 percentage points lower than a year earlier. With consumer prices up 3.6% over the 12 months to Mar 2026, the real rate (policy rate minus inflation) is +2.1%: borrowing costs are above inflation.
Policy rate over the past two years
Jul 2026: 5.75%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Dec 2025 | Cut | 6.00% | 5.75% | −0.25 pt |
| Aug 2025 | Cut | 6.50% | 6.00% | −0.50 pt |
| Aug 2024 | Cut | 7.00% | 6.50% | −0.50 pt |
Changes between month-end rates. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Mar 2026: 3.6%
10-year government bond yield
Jul 2026: 6.50%
Other central banks in Asia
Source: IMF monetary statistics; inflation: IMF CPI; bond yield: IMF monetary statistics. Updated daily. All central bank rates · Nepal economy dashboard