Namibia’s central bank opted to keep its benchmark interest rate steady at 6.75%, ending a streak of four straight cuts, as it flagged rising uncertainty in global economic policy.
The decision, announced on Wednesday, reflects the Bank of Namibia’s cautious stance amid shifting global dynamics and inflationary pressures.
In its latest assessment, the bank revised its downward economic growth forecast for 2025, estimating GDP expansion between 3.5% and 4.0%. This marks a softer outlook compared to the projections made during its last monetary policy meeting in February.
The central bank also adjusted its inflation expectations, projecting average inflation for the year at 4.2%—an upward revision. It noted that annual inflation climbed to 4.2% in March, up from 3.6% recorded in February.
