By: Justicia Shipena
The Bank of Namibia (BoN) is expected to maintain the interest rate at its current level when it announces the repo rate today, following the lead by its South African counterpart.
BoN’s Monetary Policy Committee (MPC) raised the repo rate by 50 basis points to 7.75% in June this year, a move that was retained when the MPC met again in August.
During that time, the central bank also revised its economic growth forecast for this year, increasing it from the previous estimate of 3% to 3.3%.
In light of the South African Reserve Bank’s decision to keep interest rates steady to mitigate the effects of fuel price inflation, Angelique Bock, a research assistant at Simonis Storm Securities, predicts the Bank of Namibia will follow suit.
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