The Bank of Namibia kept its benchmark interest rate unchanged at a record low of 3.75% during its April of 2021 meeting, following a similar decision by the South African Reserve Bank in March. Policymakers said that the current stance remains appropriate to continue supporting domestic economic activity, while at the same time protecting the currency's peg to the South African rand. The bank noted that domestic economic activity contracted severely by 8% in 2020 due to the devastating effects of the Covid-19 pandemic, and that available indicators for the two first months of 2021 point to subdued activity. Going forward, the economy is expected to grow by 2.7% in 2021, assuming a faster vaccination rollout. Meanwhile, the annual inflation rate stood at 2.7% in February 2021, unchanged from the previous month's 15-month high; and it is projected to average around 3.2% in 2021. source: Bank of Namibia
Interest Rate in Namibia averaged 6.81 percent from 2007 until 2021, 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 May of 2021.
Interest Rate in Namibia is expected to be 3.50 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 2022, according to our econometric models.