JOHANNESBURG (Reuters) - Namibia's central bank kept its main lending rate unchanged at 5.5 percent for the fifth straight meeting on Wednesday, saying inflation was stable but the economy needed support from the impact of the euro zone recession.
"Global economic conditions remain weak with the pace of contraction in the euro area increasing and commodity prices declining, which is a concern," Bank of Namibia Governor Ipumbu Shiimi said.
Namibia is one of the world's biggest producers of diamonds and a major source of uranium. Worries about growth in China, the world's biggest commodities consumer, and a recession in the euro zone, a major trading partner, are putting pressure on mining sector exports.
However, the bank said the economy was likely to grow faster than its April estimate of 4.4 percent this year, driven by manufacturing and construction.
GDP growth was estimated at 5 percent for 2012.
"In Namibia inflation is stable and the economy is growing, but not yet at the 7 percent envisioned. We remain worried about the widening gap between imports and exports," Shiimi said.
Inflation was steady at 6.1 percent in May, compared with the previous month.
CPI is expected to moderate to 6 percent this year, from an average of 6.5 percent in 2012.
Source: http://news.yahoo.com/namibia-keeps-bank-lending-rate-steady-5-5-102634323.html
zurich classic selena lamichael james lamichael james acl earthquake los angeles unemployment
কোন মন্তব্য নেই:
একটি মন্তব্য পোস্ট করুন