The Bank of Namibia raised its repo rate by 25 basis points to 7.00% on October 28. The central bank said it wanted to limit the wider inflation effects of expensive fuel and support Namibia’s currency link with South Africa’s rand.
Governor Ebson Uanguta said the decision also considered the interest-rate gap with South Africa and risks to international reserves. Reuters reported September annual inflation of 5.4%. The bank’s inflation and growth projections describe its current outlook, rather than outcomes already achieved.
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