Namibia’s Annual Inflation Moderates to 5.3% in December 2023

Namibia’s Annual Inflation Moderates to 5.3% in December 2023

In December 2023, Namibia experienced a moderation in its annual inflation rate, standing at 5.3% year-on-year. This represented a slowdown from the 5.7% year-on-year figure observed in November 2023 and a more substantial decline from the 6.9% recorded the previous year. FNB Namibia Economist, Ruusa Nandago, provides insights into what can be anticipated regarding inflation for the year 2024.

January 24, 2024 24

Business / Economics

ECB to signal no rush to cut interest rates

European Central Bank policymakers are expected to keep interest rates steady on Thursday and signal they are in no hurry to start slashing borrowing costs despite progress against inflation. The Frankfurt institute is tipped to pause for the third meeting in a row following a historic run of hikes to tame runaway prices, leaving the benchmark deposit rate at four percent. ECB president Christine Lagarde said last week rates had […]

January 22, 2024 7

Africa

Davos: Global economists see bright spots in Africa growth prospects

By Conrad Onyango, bird story agency Top economists agree that Africa's economic prospects for 2024 are positive, as small countries sparkle in the face of sluggish global growth projections. Chief economists from the World Economic Forum, World Bank and United Nations project Africa’s economy will defy the impacts of weak investments, debt crises, inflation, tight financial conditions and extreme weather patterns to record an improvement over 2023. A strong majority […]

January 19, 2024 28

Namibia

Namibia’s CPI comes in at 5.3%

The Namibia Statistics Agency’s latest Consumer Price Index shows that Namibia’s annual inflation stood at 5.3 percent during December 2023. NSA Communication specialist, Mirja Shihepo helps make sense of things. Meanwhile, during the month of November 2023, Namibia’s trade balance stood at a deficit of N$4.0 billion an improvement when compared to N$4.5 billion when compared to N$2.8 billion recorded in October 2023. The country’s trade composition by partner […]

January 18, 2024 51

Business / Economics

The Year of Expectations: Converting uncertainty into opportunity

By Josef Kefas Sheehama This time of year is always a welcome opportunity to reflect on what is most important. His Excellency Dr Hage G. Geingob, the President of the Republic of Namibia has declared 2024 as “The Year of Expectations”. As Namibia approaches the general elections in 2024, there is immense pressure on political leaders to tackle these economic challenges and implement policies that will deliver an inclusive […]

January 11, 2024 12

Business / Economics

Ripples of 2023: FBS’s insight on the 2024 global financial outlook

With 2023 coming to an end, leading global broker FBS looks back at the significant economic events and delves into the perspective of the financial landscape in 2024. FBS financial market analysts point out that next year, financial markets will stand at the cusp of transformation under the influence of the US economy, global and local military conflicts, and the sprawl of AI. As FBS experts further stress, the cautious stance […]

December 19, 2023 5

Business / Economics

Stocks track record day on Wall St, dollar extends losses

Equity markets rallied Thursday and the dollar extended losses after the US Federal Reserve indicated it would begin cutting interest rates next year. The surge across the region tracked a record-breaking day on Wall Street, where traders cheered a much-sought-after dovish pivot from the central bank as US inflation comes down. After more than a year of hiking, decision-makers at their last meeting of the year acknowledged that they […]

December 14, 2023 4

Business / Economics

Namibia’s inflation to ease in 2024

Namibia's inflation is expected to moderate in 2024, continuing a trend of slowing inflation rates. Simonis Storm Securities projections suggest a potential easing to 5.1%, indicating a positive step towards economic equilibrium. The stockbroker and wealth management company notes a steady decrease in inflation rates, fostering a stable environment for businesses and consumers.

December 12, 2023 10

Business / Economics

Bank of Namibia maintains repo rate at 7.75%

The Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, resulting in the prime lending rate remaining stable at 11.50 percent. Here is Governor Johannes !Gawaxab addressing the decision. The next meeting of the MPC will be held on 12 and 13 February 2024.

December 6, 2023 30