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Namibia hikes main lending rate to 6.25%


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Namibia hikes main lending rate to 6.25%

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Namibia hikes main lending rate to 6.25%

Flag of Namibia

26th October 2022

By: Reuters

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Namibia's central bank on Wednesday raised its main lending rate by 75 basis points to 6.25%, tightening policy further to try to curb inflation.

Namibia's annual inflation dropped to 7.1% last month from 7.3% in August.

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As well as trying to ensure price stability, the Bank of Namibia also tries to safeguard the 1:1 link between the Namibian dollar and South African rand, which means it often mirrors rate decisions by the central bank of its neighbour.

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