Wednesday, April 27, 2011

Central Bank of Namibia Holds Policy Rate at 6.00%

The Bank of Namibia held the repo rate at 6.00% to accommodate a weak economy as inflation appeared "not demand driven".  The Bank said: "The executive commission felt that a change in the stance at this point would run the risk of unduly depressing domestic demand at a time when this demand is not the cause of recent inflation acceleration,".  Namibia's inflation rose to 3.8% in March from 3.1% in the previous month, mainly driven by food and transport costs.


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