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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Namibia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-30 09:05 AM 6.75% 6.25% 7%
2023-02-15 09:00 AM 7% 6.75% 7.0%
2023-04-19 09:00 AM 7.25% 7% 7.0%
2023-06-14 09:00 AM 7.25% 7.5%
2023-08-16 09:00 AM
2023-10-25 09:00 AM


Related Last Previous Unit Reference
Interest Rate 7.25 7.25 percent May 2023
Money Supply M1 76995.60 72691.70 NAD Million Apr 2023
Money Supply M2 138493.70 131286.60 NAD Million Apr 2023
Foreign Exchange Reserves 51767.98 48330.97 NAD Million Apr 2023
Lending Rate 11.00 11.00 percent May 2023
Central Bank Balance Sheet 52351.00 50698.20 NAD Million Apr 2023
Money Supply M0 8271.30 8378.60 NAD Million Apr 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
7.25 7.25 10.50 3.75 2007 - 2023 percent Daily

News Stream
Namibia Lifts Key Interest Rate to 7.25%
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%.
2023-04-19
Namibia Hikes Key Interest Rate to 7%
The central bank of Namibia lifted its key lending rate by 25 bps to 7% on February 15th 2023, following a 50 bps rate increase in November. The decision was aimed at safeguarding its currency peg with South Africa’s rand and to continue anchoring inflation expectations. The headline inflation ticked up to 7% in January from a five-month low of 6.9% in the previous month. Meanwhile, policymakers said that domestic activity continues to show a gradual improvement. The Bank of Namibia kept its economic growth forecast for 2023 at 2.7%, down from an estimated 3.9% last year.
2023-02-15
Namibia Lifts Interest Rate to 6.75%
The central bank of Namibia raised its key lending rate by 50 bps to 6.75% during its November 2022 meeting, following a 75 bps rate increase in October. It was the sixth consecutive rate hike so far this year, pushing borrowing costs to levels not seen since July of 2019, to safeguard its currency peg with South Africa’s rand and to continue anchoring inflation expectations. Namibia's annual inflation stood at 7.1% in October of 2022, the same as in September, and holding close to 2017-highs of 7.3% reached in August. Meanwhile, Governor Johannes Gawaxab said the central bank was in the process of revising up its 2022 growth forecast from a previous prediction of 3.2%, adding he would not be surprised if growth reached 4%.
2022-11-30