News Column

Lending rate raised to 5.75%

June 20, 2014

WINDHOEK: Namibia's central bank on Wednesday raised its benchmark lending rate by 25 basis points to 5.75 percent, in a bid to curb inflation and surging demand for credit.

Inflation has been rising in recent months and is expected to average 6 percent this year.

"The rapid growth in imports of vehicles, partly financed by installment credit, remains a concern," said the bank governor Ipumbu Shiimi.

Cape Argus

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Source: Cape Argus (South Africa)

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