Namibia's central bank hiked its benchmark lending rate by 25 basis points to 7 percent on Wednesday as it aims to prevent possible capital outflows.
Central bank raises lending rate to 7 percent
"With this increase in the repo rate, it is expected that deposit-taking institutions will also raise deposit rates," Governor Ipumbu Shiimi told a news conference.
Patrick Nandago - Permanent Secretary to Ministry of Home Affairs, Namibia
"With this increase in the repo rate, it is expected that deposit-taking institutions will also raise deposit rates by the same margin, thereby encouraging savings," Governor Ipumbu Shiimi told a news conference.
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