Namibia's central bank on Wednesday decided to reduce its policy interest rate in order to support ailing sectors of the economy and to further shore up the subdued growth outlook.
The monetary policy committee of the Bank of Namibia lowered the benchmark interest rate by 50 basis points to 5.5 percent.
The bank said that inflation will remain within tolerable ranges in the foreseeable future, though some upside risks lingers on account of looming higher international oil and food prices. A possible appreciation of the Namibian dollar may counter some of the inflationary impact stemming from the referred pressures.
Namibia's consumer price inflation accelerated to 6 percent in July from 5.6 percent in June, largely reflecting higher food and utility prices and an increase in housing costs.
A slowdown of external demand is likely to put pressure on the country's export earnings and overall GDP growth going forward, the bank said.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.