The Bank of Namibia kept its benchmark interest rate steady at a record low of 3.75% during its December of 2020 meeting, following a similar decision by the South African Reserve Bank in November. Policymakers said that the current stance is still appropriate to continue supporting the economy amid low inflationary pressures and maintain the one-to-one link between the Namibian dollar and the South African rand. Policymakers said that available indicators suggest that domestic activity contracted during the first ten months of the year, and it is estimated to register an overall contraction in 2020, before an expected modest recovery in 2021. Meanwhile, headline inflation fell to 2.2% during the first ten months of the year, well below 4% a year ago; and it is expected to average 2.3% in 2020. source: Bank of Namibia
Interest Rate in Namibia averaged 6.90 percent from 2007 until 2020, 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 January 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. Looking forward, we estimate Interest Rate in Namibia to stand at 3.25 in 12 months time. In the long-term, the Namibia Interest Rate is projected to trend around 3.25 percent in 2021, according to our econometric models.