The central bank of Namibia raised its key lending rate by 50bps to 4.75% during its June 2022 meeting, a third consecutive rate hike, and pushing borrowing costs to levels not seen since March 2020. Policymakers said the decision took into account global and domestic inflationary pressures, a fragile economic recovery and the need to safeguard the 1:1 link between the Namibian dollar and South Africa's rand currency. source: Bank of Namibia
Interest Rate in Namibia averaged 6.57 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 June of 2022.
Interest Rate in Namibia is expected to be 4.75 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 6.00 percent in 2023 and 6.75 percent in 2024, according to our econometric models.