The Bank of Namibia cut its benchmark interest rate by 25 bps to a historic low of 4% during its meeting in June of 2020, saying the current stance is appropriate to continue supporting the economy and maintain the one-to-one link between the Namibian dollar and the South African rand. Policymakers noted that overall domestic activity declined in the first four months of the year, on the back of lockdown measures aimed at containing the spread of Covid-19; and it is projected to contract further in 2020. Meanwhile, inflation has been trending lower, having reached 2.1% in May (vs 4.1% a year before), and it is expected to average 2% in 2020.
Interest Rate in Namibia averaged 6.97 percent from 2007 until 2020, reaching an all time high of 10.50 percent in May of 2007 and a record low of 4 percent in June of 2020. This page provides the latest reported value for - Namibia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Namibia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Bank of Namibia
Interest Rate in Namibia is expected to be 3.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Namibia to stand at 3.50 in 12 months time. In the long-term, the Namibia Interest Rate is projected to trend around 3.50 percent in 2021, according to our econometric models.