Namibia’s Central bank left its main interest rate unchanged at 6.50% in a decision announced on Wednesday.
The bank trimmed the repo rate by 25 basis points at its last monetary policy meeting in October to support domestic economic activity.
Namibia’s monetary policy is closely aligned with that of its neighbour South Africa (SA), as its local currency is pegged one-to-one to the SA Rand.
Since the last rate decision SA’s Central bank cut its main lending rate by 25 basis points to 6.75% after its inflation target was lowered to 3%.
The Bank of Namibia has welcomed, opens new tab SA’s lower inflation target, saying it will be good for price stability in Namibia also.
Inflation in Namibia edged up to 3.6% year on year in October from 3.5% in September.
–Reuters–
