Namibia's central bank raised its key lending rate by another 25 bps to 7.25% on April 19th 2023, the eighth consecutive rate hike, bringing borrowing costs to their highest since May 2009. The bank said the decision was aimed at continuing to anchor inflation expectations, safeguarding a currency peg with the South African rand and avoiding "harsh impulses" to the domestic economy. The annual inflation rate in Namibia stood at a six-month high of 7.2% in March 2023, unchanged from the previous month and above market forecasts of 6.8%. source: Bank of Namibia
Interest Rate in Namibia averaged 6.57 percent from 2007 until 2023, 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 2023.
Interest Rate in Namibia is expected to be 7.50 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 6.50 percent in 2024 and 5.50 percent in 2025, according to our econometric models.