The Bank of Namibia left its benchmark repo rate steady at 6.75 percent on June 12th 2019, to support the economy's recovery. Policymakers noted that domestic activity slowed during the first four months of 2019, mainly reflected in sectors such as mining, agriculture, construction, and wholesale and retail trade; and it is projected to remain weak in 2019. The Namibian economy contracted by 0.1 percent in 2018 and by 0.9 percent in 2017, on lower agricultural output. Headline inflation stood at 4.5 percent in April 2019, unchanged from the previous month and it is expected to average 4.5 percent in 2019. Interest Rate in Namibia averaged 7.07 percent from 2007 until 2019, reaching an all time high of 10.50 percent in May of 2007 and a record low of 5.50 percent in August of 2012.
Interest Rate in Namibia is expected to be 6.75 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 6.50 in 12 months time. In the long-term, the Namibia Interest Rate is projected to trend around 6.75 percent in 2020, according to our econometric models.