Bank of Namibia leaves lending rate unchanged at 6.75 pct
Featured

11 April 2018
Author   Nyasha Francis Nyaungwa

The Bank of Namibia left its benchmark lending rate unchanged at 6.75 percent on Wednesday for a fourth meeting in a row, saying the current level was appropriate to support economic growth.

The economy slipped into a recession in 2017 after growth contracted in the final two quarters of as the construction and retail sectors shrunk.

The central bank also said foreign currency reserves had fallen to N$26.1 billion from N$30.2 billion at the end of 2017.

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