Namibia’s central bank held its key lending rate at 7.75%, keeping borrowing costs at their highest level since April 2019. That follows a series of rate hikes earlier in the year to maintain the peg between the Namibia Dollar and the South African Rand and bolster the domestic economy. Indications point towards reducing inflationary pressures, with the annual inflation rate dropping to 4.5% in July 2023, a decline from 5.3% in June, and marking a 1.5-year low.