Wednesday, February 23, 2011

Bank of Namibia Holds Rate at 6.00%

The Executive Committee of the Bank of Namibia held the Repo Rate unchanged at 6.00% as it looked to balance risks to the economic recovery against rising inflation risks. Namibia saw inflation of 3.5% in January, up slightly from 3.1% in December, however prices are likely to come under upward pressure due to rising commodity prices globally; particularly food and energy prices. The Bank noted that the Namibian economy grew 4.6% during 2010; with the primary sector contributing strongly to growth.


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