Namibia’s Central Bank Cuts Interest Rates for Third Consecutive Meeting Amid Falling Inflation

In a bid to support economic growth, the Bank of Namibia has lowered its repo rate by 25 basis points to 7.00%, marking the third consecutive rate cut in recent months. This decision follows similar-sized cuts in October and August and reflects a continued decline in inflation in the southern African country.
The move aims to stimulate the economy by making borrowing cheaper and boosting consumer and business spending. As inflation continues to ease, the central bank has opted to take further steps to create favorable economic conditions.
This announcement comes just a day after Namibia’s presidential election results, where Netumbo Nandi-Ndaitwah of the ruling SWAPO party was elected as the country’s next president, making history as Namibia’s first female leader. The economic policy shift coincides with a key moment in the country’s political landscape, as Nandi-Ndaitwah’s leadership may shape future fiscal and monetary policies.
The rate cut and the new presidential leadership could have significant implications for Namibia’s economic trajectory in the coming months.