Namibia Central Bank Keeps Interest Rate at 6.50 Percent
The Bank of Namibia held its repo rate steady for a third meeting as inflation fell to 2.1 percent. Government fuel levy cuts helped offset global energy costs.
Namibia kept its repo rate unchanged at 6.50% on Wednesday midday to monitor inflation risks from regional geopolitical tensions. This marks the third consecutive hold as annual inflation slowed to 2.1% in March, a six-year low. Policymakers are balancing domestic price stability against energy volatility involving the United States, Israel, and Iran.
### Assessing the Inflation Floor The Bank of Namibia noted that March inflation fell from 2.4% in February, hitting its lowest point since 2020. Despite this cooling, the central bank expects consumer prices to rise in the coming months.