Namibia central bank raised its key lending rate by 50 bps to 7.75%, setting borrowing costs at their highest since April 2019. That follows two previous 25 bps hikes in response to prevailing inflationary pressures and the need to safeguard the currency peg with the South African rand. Inflation in Namibia climbed to 6.3% YoY in May, up from a ten-month low of 6.1% the previous month. The central bank anticipates real GDP growth to slow to 3% in 2023 from 4.6% in 2022.