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    Namibia's central bank raises lending rate to 7%

    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.

     

    "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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