Market News
Namibia central bank raises key interest rate by 25 basis points - REUTER
WINDHOEK, June 17 (Reuters) – Namibia’s central bank raised its main interest rate by 25 basis points to 6.75% in a decision announced on Wednesday.
It was the first increase in the repo rate in three years.
Inflation quickened to 4.1% year on year in May from 3.1% in April.
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The rise in inflation came despite the Southern African country’s government cutting fuel levies to cushion the impact of the global energy price surge triggered by the U.S.-Israeli war against Iran.
