Rates unchanged, but Growth up

Namibia’s central bank left its lending rate steady at 5.5% on Wednesday, saying it is trying to support economic growth and that inflation would remain within acceptable levels. “Recovery globally remains fragile. Growth in emerging economies is slowing down. Low demand and commodity prices pose risk to the Namibian economy,” deputy governor Henson Uanguta told journalists. The bank raised its growth projections for 2013 to 4.7%, from about 4.4% previously forecast.

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