Liquidity balances held by commercial banks rose in October
The banking industry’s overall liquidity position averaged N$3.1 billion in October 2020, relative to the N$2.2 billion in September 2020.
The Bank of Namibia said the increase in liquidity is on the back of diamond sales, increased government expenditure and interest payment from the state during the period under review.
Meanwhile, Namibia’s annual inflation rate stood at 2.3% in October 2020, a meagre 0.1% change compared to the preceding month.
The Bank said this was reflected in the inflation rates for the categories food & non-alcoholic beverages, transport and housing during the period under review.