Namibia hikes to ‘align’ rates in region

namibia-central-bank
Bank of Namibia hikes by 25bp to 6.75%

The Bank of Namibia hiked its key interest rate by 25 basis points to 6.75% today (February 17), citing the need to "align" rates within the Common Monetary Area (CMA).

"This decision was necessary to avoid possible capital outflows, which could put pressure on the country's reserves," Ipumbu Shiimi, governor of the bank, said in a statement dotted with new language.

Lesotho, Namibia, Swaziland and South Africa form the CMA. All four countries accept the South African rand as legal tender, while

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