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Namibian Central Bank Holds Policy Rate At 6%

4/25/2012 7:37 AM ET

The Bank of Namibia on Wednesday decided to retain its policy rate at 6 percent, to support economic growth amid weakening inflationary pressures and subdued activity.

The monetary policy committee said the medium-term growth trajectory is clouded by downside risks and the developments in the Eurozone, the country's major trading partner, creates room for concern.

Namibia;'s annual inflation slowed to 6.9 percent in March from 7.4 percent in February, owing mainly to a decline in costs of housing, utilities, healthcare and recreation and culture.

by RTT Staff Writer

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