Bank of Namibia cuts rates due to uncertain economic outlook

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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

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