The benchmark interest rate in Namibia was last recorded at 4.25 percent.

Interest Rate in Namibia averaged 6.99 percent from 2007 until 2020, reaching an all time high of 10.50 percent in May of 2007 and a record low of 4.25 percent in April 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 2020. source: Bank of Namibia

Interest Rate in Namibia is expected to be 4.25 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 4.25 in 12 months time. In the long-term, the Namibia Interest Rate is projected to trend around 4.50 percent in 2021 and 5.00 percent in 2022, according to our econometric models.

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Namibia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.25 4.25 10.50 4.25 2007 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-12-04 09:20 AM 6.5% 6.5% 6.5%
2020-02-19 09:10 AM 6.25% 6.5% 6.25%
2020-03-20 01:45 PM 5.25% 6.25%
2020-04-15 02:00 PM 4.25% 5.25% 4.75%
2020-06-17 09:00 AM 4.25% 4.25%
2020-08-19 09:00 AM 4.25%
2020-10-21 09:00 AM 4.25%
2020-12-09 09:00 AM 4.25%


News Stream
Namibia Slashes Key Interest Rate to 4.25%
The Bank of Namibia cut its benchmark interest rate by 100 bps to 4.25 percent during its meeting in April of 2020, following the South African Reserve Bank's interest rate cut by the same margin on Tuesday. Policymakers said that the decision aims to support weak domestic activity and provide short-term relief amid the extraordinary circumstances arising from the Covid-19 pandemic while maintaining the one-to-one link between the Namibian dollar and the South African rand. The bank noted that domestic activity slowed in the first three months of 2020, mainly due to declines in mining, wholesale & retail trade, manufacturing and tourism. The current estimates for 2020 indicate that the economy will contract significantly while inflation is projected to average below 3 percent.
2020-04-15
Namibia Cuts Key Interest Rate to 5.25%
The Bank of Namibia lowered its benchmark interest rate by 100bps to 5.25 percent at an emergency meeting on March 20th, following the South African Reserve Bank's interest rate cut by the same margin on Thursday. Policymakers said that the decision's main purpose was to cushion the anticipated impact of COVID-19 and support the domestic activity while maintaining the one-to-one link between the Namibian dollar and the South African rand. The economy is expected to continue to weaken in 2020 while inflation is projected to average around 2.6 percent. The Committee finalized saying that will continue to monitor developments in the economy and will take necessary steps to support the Namibian economy during this extraordinary time.
2020-03-20
Namibia Cuts Key Interest Rate to 6.25%
The Bank of Namibia trimmed its benchmark repo rate by 25 bps to 6.25% during its February 2020 meeting, to stimulate the economy and maintain the one-to-one link between the Namibian dollar and the South African rand. This is the first cut since last August and comes after the South African Reserve Bank's decision to slash its own interest rate by 25 basis points to 6.25% in January. Policymakers said that available indicators suggest that domestic activity contracted in 2019 compared to a marginal growth in 2018, amid declines in mining, agriculture, manufacturing and wholesale & retail trade. Other sectors such as construction and transport improved, and the economy is projected to strengthen in 2020. On the other hand, headline inflation fell to a near 14-1/2-year low of 2.1% in January 2020; and it is expected to average below 5% in 2020.
2020-02-19
Namibia Holds Interest Rate at 6.5%
The Bank of Namibia left its benchmark repo rate steady at 6.5 percent during its December meeting, saying the decision aims to stimulate growth in a context of low inflation, maintaining the one-to-one link between the Namibian dollar and the South African rand. Policymakers noted that economic activity continued to slow in the last ten months of the year, mainly reflected in sectors such as mining, manufacturing, construction, wholesale & retail trade and agriculture. The economy is projected to shrink further, due to the negative impact of drought on agriculture. Meanwhile, the headline inflation rate eased further to an over 4-year low of 3 percent in October and it is expected to average 3.8 percent in 2019.
2019-12-04

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.