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.