Namibia administers first rate cut in four years
Move comes as inflation slows and foreign exchange buffers increase
Namibia’s central bank on August 14 reduced its repurchase rate by 25 basis points to 7.5% – the first rate cut since August 2020. The repo rate had previously been unchanged since last June.
In a published summary of the monetary policy committee meeting on August 12–13, the Bank of Namibia noted that as the nominal interest rate was flat, the real interest rate had increased. This, combined with an easing of inflation and lower inflation expectations, meant the bank was still in effect pursuing
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