December 6, 2017 / 9:22 AM / 10 days ago

Namibia's central bank leaves lending rate unchanged at 6.75 percent

WINDHOEK, Dec 6 (Reuters) - Namibia’s central bank left its benchmark lending rate unchanged at 6.75 percent on Wednesday, saying the level was appropriate to maintain the one-to-one currency peg with South Africa’s rand as well as support economic growth.

“The domestic economy showed more evidence of weakness during the first 10 months of 2017. Contractions are deeper than we previously anticipated,” said Bank of Namibia governor Iipumbu Shiimi. (Reporting by Nyasha Nyaungwa; Editing by James Macharia)

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