Bank of Namibia cuts rates due to uncertain economic outlook


The monetary policy committee (MPC) of the Bank of Namibia has voted to cut rates by 50 basis points to 5.5% to support "ailing" sectors of the economy, but expressed concerns about rising inflation and fast growth in consumer credit.

A statement from the monetary policy meeting, released today (August 22), said the medium-term outlook "continues to be shadowed with heightened uncertainties". "The MPC finds that a measure of monetary policy easing is necessary to support the ailing sectors of th

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