Economics
Namibia Hikes Key Rate by Most in 15 Years to Temper Inflation
- Central bank lifts rate 50 basis points, tracks South Africa
- Inflation being driven by surging food and fuel prices
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Namibia’s central bank increased its key interest rate by the biggest margin since 2007 to safeguard its currency peg with South Africa’s rand and stymie inflation.
The monetary policy committee increased the rate by 50 basis points to 4.75%, Governor Johannes !Gawaxab told reporters in the capital, Windhoek, on Wednesday.