Namibia’s central bank lowered its benchmark interest rate by 25 bps 7.5% to bolster weak private credit and stimulate economic growth, now forecasted at 3.1% for 2024, down by 0.6 pp from earlier predictions. Additionally, inflation projections for 2024 and 2025 were adjusted to 4.7% and 4.4%, respectively, owing to the Namibia dollar’s appreciation and lower crude oil prices.