Namibia Keeps Interest Rate at 7.75%
Namibia’s central bank has announced its monetary policy committee’s decision to keep its key lending rate steady at 7.75% on Wednesday.
The decision is expected to leave borrowing costs in the country at the highest level since April 2019 for the sixth consecutive meeting.
According to the policy maker, Namibia central bank decision was intended to safeguard the peg between the Namibian Dollar and the South African Rand, while also supporting the domestic economy.
The annual inflation rate in Namibia climbed for the second month to 4.9% in May 2024, up slightly from 4.8% in the prior month. # Namibia Keeps Interest Rate at 7.75% Transcorp, GTCO Drive Intraday Gain on NGX
