By: Justicia Shipena

 

The Bank of Namibia (BoN) is expected to cut the by 25 basis points on today, bringing it down to 6.75%, with the prime lending rate shifting to 10.5%.

In its last meeting, the Monetary Policy Committee (MPC) unanimously decided to lower the policy rate by 25 basis points to 7.00%.

“The inflation trajectory in Namibia seems favourable, especially given the latest January figure of 3.2%, which was lower than expected. This gives the Bank of Namibia room to lower rates further,” economist Floris Bergh said.

The decision follows South Africa’s recent move to cut its main lending rate for the third consecutive time.

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