The central bank of Namibia raised its benchmark repo rate by 25 bps to 4.25% at its April 2022 meeting, in line with South African monetary policy. Policymakers said that the current stance was appropriate to continue supporting domestic economic activity, while at the same time safeguarding the one-to-one link between the Namibia Dollar and the South African rand. The bank noted that domestic economic activity recovered in 2021, regaining some of the ground lost in 2020, boosted by major sectors such as mining, wholesale and retail trade, communication and tourism. Going forward, the domestic economy is expected to grow around 3% in 2022. Meanwhile, the annual inflation rate was at 4.5% in February 2022, down slightly from a three-year high of 4.6% in the prior month. Namibia’s overall inflation is projected to average around 4.4% for 2022 and 4.5% in 2023, up from 3.6% registered in 2021. source: Bank of Namibia

Interest Rate in Namibia averaged 6.60 percent from 2007 until 2022, 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 May of 2022.

Interest Rate in Namibia is expected to be 4.50 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 6.00 percent in 2023 and 6.75 percent in 2024, according to our econometric models.

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Namibia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-08 09:15 AM 3.75% 3.75% 4%
2022-02-16 09:15 AM 4% 3.75% 4%
2022-04-13 09:15 AM 4.25% 4% 4.25%
2022-06-15 09:15 AM 4.25% 4.50%
2022-08-17 09:15 AM
2022-10-19 09:15 AM


Related Last Previous Unit Reference
Interest Rate 4.25 4.00 percent Apr 2022
Money Supply M1 68171.60 67139.50 NAD Million Mar 2022
Money Supply M2 129097.70 127212.10 NAD Million Mar 2022
Foreign Exchange Reserves 40751.41 43020.76 NAD Million Apr 2022
Money Supply M0 7166.72 7608.85 NAD Million Mar 2022
Lending Rate 7.75 7.75 percent Mar 2022
Central Bank Balance Sheet 41784.30 43821.60 NAD Million Aug 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.25 4.00 10.50 3.75 2007 - 2022 percent Daily

News Stream
Namibia Hikes Key Rate to 4.25%
The central bank of Namibia raised its benchmark repo rate by 25 bps to 4.25% at its April 2022 meeting, in line with South African monetary policy. Policymakers said that the current stance was appropriate to continue supporting domestic economic activity, while at the same time safeguarding the one-to-one link between the Namibia Dollar and the South African rand. The bank noted that domestic economic activity recovered in 2021, regaining some of the ground lost in 2020, boosted by major sectors such as mining, wholesale and retail trade, communication and tourism. Going forward, the domestic economy is expected to grow around 3% in 2022. Meanwhile, the annual inflation rate was at 4.5% in February 2022, down slightly from a three-year high of 4.6% in the prior month. Namibia’s overall inflation is projected to average around 4.4% for 2022 and 4.5% in 2023, up from 3.6% registered in 2021.
2022-04-13
Namibia Hikes Key Rate to 4%
The central bank of Namibia raised its benchmark repo rate by 25 bps to 4% at its February 2022 meeting, saying the decision is appropriate to safeguard the one-to-one link between the Namibia dollar to the South African Rand. Policymakers noted that domestic activity recovered in 2021, driven by major sectors such as mining, wholesale and retail trade, communication and tourism. Going forward, the GDP is expected to grow around 3% in 2022, with main risks to the economic outlook in the medium-term linked to sudden surges in Covid-19 infections and vaccine hesitancy. Meanwhile, headline inflation was at a three-year high of 4.6% in January, mainly due to prices of transport and food; and it is projected to average around 4% in 2022 and 4.5% in 2023.
2022-02-16
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 November of 2021 meeting, supporting the weak domestic economy as a new omicron coronavirus variant was discovered and restrictions among the nation’s major trading partners were implemented. In addition, policy makers said that the expeditious rollout of vaccinations and addressing issues of vaccine hesitancy remain key to the extent, speed, and sustainability of the economic recovery. The committee noted the increasing trend in inflation globally and recognized its imminent impact on monetary policy going forward. Governor Johannes Gawaxab said domestic economic activity improved in the first ten months of 2021, but uncertainties remain in light of the Omicron variant and its potential impact. As a result, the domestic economy is expected to grow by 1.5 percent in 2021 and 3.3 percent in 2022.
2021-12-08