Namibia central bank leaves rate unchanged at 5.5% - CNBC Africa

Namibia central bank leaves rate unchanged at 5.5%

Southern Africa

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Central Business District, Windhoek, Namibia. PHOTO: Getty Images

This was for the fifth straight meeting on Thursday as the countery tries to boost economic growth.

"Despite the fragile global environment, growth in Namibia remains relatively strong. Inflation slowed in October and is expected to remain low for the remainder of the year," said Bank of Namibia Governor Ipumbu Shiimi.

The bank cut its 2013 growth forecast to about four per cent, from 4.6 per cent seen previously, while GDP is expected to grow five per cent in 2014, driven mainly by construction.

Growth in the mineral-rich southern African nation was at five per cent in 2012.

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