The Bank of Namibia kept its benchmark interest rate unchanged at a record low of 3.75% during its October of 2021 meeting, following a review of global, regional and domestic economic as well as financial developments. Policy makers said that the current stance remains appropriate to continue supporting domestic economic activity amid the high uncertainty around the evolution of the Covid-19 pandemic, while at the same time protecting the currency's peg to the South African rand. Governor Johannes Gawaxab said the economy slowed in the first three quarters of 2021, including sectors like mining, agriculture, manufacturing, construction, tourism and transport & storage. As a result, the economy is expected to grow by 1.4 percent in 2021 and 3.4 percent in 2022. source: Bank of Namibia

Interest Rate in Namibia averaged 6.70 percent from 2007 until 2021, reaching an all time high of 10.50 percent in May of 2007 and a record low of 3.75 percent in August 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 October of 2021.

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. In the long-term, the Namibia Interest Rate is projected to trend around 3.50 percent in 2022 and 3.25 percent in 2023, according to our econometric models.

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Namibia Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-06-16 09:00 AM 3.75% 3.75% 3.75%
2021-08-18 09:10 AM 3.75% 3.75% 3.75%
2021-10-20 09:15 AM 3.75% 3.75% 3.75%
2021-12-08 09:15 AM 3.75%


News Stream
Namibia Holds Key Interest Rate at 3.75%
The Bank of Namibia kept its benchmark interest rate unchanged at a record low of 3.75% during its October of 2021 meeting, following a review of global, regional and domestic economic as well as financial developments. Policy makers said that the current stance remains appropriate to continue supporting domestic economic activity amid the high uncertainty around the evolution of the Covid-19 pandemic, while at the same time protecting the currency's peg to the South African rand. Governor Johannes Gawaxab said the economy slowed in the first three quarters of 2021, including sectors like mining, agriculture, manufacturing, construction, tourism and transport & storage. As a result, the economy is expected to grow by 1.4 percent in 2021 and 3.4 percent in 2022.
2021-10-20
Namibia Holds Key Interest Rate at 3.75%
The Bank of Namibia kept its benchmark interest rate unchanged at a record low of 3.75% during its August of 2021 meeting, following a similar decision by the South African Reserve Bank in July. Policymakers said that the current stance remains appropriate to continue supporting domestic economic activity amid the high uncertainty around the evolution of the Covid-19 pandemic, while at the same time protecting the currency's peg to the South African rand. Governor Johannes Gawaxab said the economy remained subdued during the first half of 2021, including sectors like tourism, mining, agriculture and construction. As a result, the bank cut its 2021 growth forecasts to 1.4% from an earlier estimate of 2.7%.
2021-08-18
Namibia Leaves Key Interest Rate at 3.75%
The Bank of Namibia kept its benchmark interest rate unchanged at a record low of 3.75% during its June of 2021 meeting, following a similar decision by the South African Reserve Bank in May. Policymakers said that the current stance remains appropriate to continue supporting domestic economic activity, particularly in light of the alarming spike in Covid-19 infections and hospitalizations, while at the same time protecting the currency's peg to the South African rand. The bank noted that domestic economic activity remained weak in the first four months of 2021 but maintained its growth forecasts at 2.7% for 2021. Meanwhile, the headline inflation rate remained high at 3.8% in May of 2021, compared to 2.1% in the same month a year ago; and it is now projected to average around 3.6% in 2021 (vs previous 3.2%).
2021-06-16

Namibia Last Unit Reference Previous Highest Lowest
Interest Rate 3.75 percent Oct/21 3.75 10.50 3.75
Money Supply M1 63154.40 NAD Million Aug/21 61847.90 65989.10 1181.60
Money Supply M2 123049.50 NAD Million Aug/21 121543.70 127829.50 15670.40
Foreign Exchange Reserves 40945.47 NAD Million Aug/21 42696.10 42696.10 1783.20
Money Supply M0 7516.20 NAD Million Aug/21 7988.03 11104.43 857.78
Lending Rate 7.50 percent Aug/21 7.50 24.20 7.50
Central Bank Balance Sheet 43821.60 NAD Million Jul/21 39126.40 43821.60 2526.62


Namibia Interest Rate
In Namibia, interest rates decisions are taken by the Executive Committee of the Bank of Namibia. The official interest rate is the Repo Rate.