Namibia marks first rate hike in six years

Central bank acts to “safeguard” link to South African rand


The Bank of Namibia’s monetary policy committee raised its benchmark interest rate by 25 basis points on February 16, to 4%. This is the first rate increase since April 2016.

The central bank said the decision would help bring about positive real interest rates and “safeguard the one-to-one link” between the Namibian and South African currencies.

In its statement, the MPC noted that year-on-year inflation had risen from 4.1% in November 2021 to 4.6% last month. The central bank expects that

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