{"id":168771,"date":"2020-04-15T20:07:20","date_gmt":"2020-04-16T00:07:20","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=168771"},"modified":"2020-04-15T19:07:35","modified_gmt":"2020-04-15T23:07:35","slug":"namibia-cuts-rate-3rd-time-to-support-weak-economy","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/04\/namibia-cuts-rate-3rd-time-to-support-weak-economy\/","title":{"rendered":"Namibia cuts rate 3rd time to support weak economy"},"content":{"rendered":"<div id=\"inves-2620749049\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 15, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>CentralBankNews.info<\/u><\/a><br \/>\nNamibia&#8217;s central bank cut its benchmark repo rate for the third time this year, saying this was to &#8220;support weak domestic activity and provide short-term relief amid the extraordinary circumstances arising from the Covid-19 pandemic.&#8221;<br \/>\nBank of Namibia (BOM) cut its rate by a further 100 basis points to 4.25 percent and has cut it by 225 points this year following cuts in February and March.<br \/>\nBOM has been lowering its rate since August 2017 and has now cut it four times since then by a total of 275 basis points.<br \/>\nBOM, which pegs its Nambian dollar to South Africa&#8217;s rand, said the rate cut would not compromise the one-to-one link between the currencies.<br \/>\nOn Tuesday the South African Reserve Bank (SARB) cut its policy rate for the second time in less than a month and for the third time this year as it upped its forecast for economic contraction in 2020.<br \/>\nThis year SARB has cut its repo rate by a total of 225 basis points to 4.25 percent.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By CentralBankNews.info Namibia&#8217;s central bank cut its benchmark repo rate for the third time this year, saying this was to &#8220;support weak domestic activity and provide short-term relief amid the extraordinary circumstances arising from the Covid-19 pandemic.&#8221; Bank of Namibia (BOM) cut its rate by a further 100 basis points to 4.25 percent and has [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-168771","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=168771"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168771\/revisions"}],"predecessor-version":[{"id":168787,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168771\/revisions\/168787"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=168771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=168771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=168771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}