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.