zhouyueyue: At a signing ceremony witnessed by Vietnamese P
At a signing ceremony witnessed by Vietnamese P
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WINDHOEK, Aug. 17 (Xinhua) -- Some banks in Namibia have responded to the repo rate cut announced by the central bank Wednesday.
The Bank of Namibia cut the repo rate by 25 basis points from 7 percent to 6.75 percent citing a decline in inflation.
Inflation has declined consistently on a monthly basis since the 8.2 percent high in January; in July it fell to 5.4 percent, which is within the preferred range of 6.0 to 3.0 percent.
Standard Bank Namibia said Thursday that they had cut both the lending and home loan base rates by 0.25 percent as of Aug. 16.
The new prime lending and home base rates cheap nike air max 90 mens ireland , the bank said, will drop from 10.75 percent to 10.50 percent.
Also on Thursday, Bank Windhoek said they had also decreased their prime lending rate by 0.25 percent cheap nike air max 90 womens ireland , from 10.75 percent to 10.50 percent.
"The mortgage lending rate will decrease from 11.75 percent to 11.50 percent," Bank Windhoek said in a statement.
Bank Windhoek sees the repo rate cut as a relief to the economy that has been struggling over the last year.
"The dire condition of the domestic economy as evinced by the recession, falling inflation nike air max 90 wholesale ireland , high unemployment and weak credit growth has long since necessitated rate cuts," Bank Windhoek said.
Most central banks in developed economies, Bank Windhoek said nike air max 90 online ireland , have turned dovish which tilts interest rate differentials in Namibia's favour and supports capital inflows.
"The outlook for global growth is quite positive which couldn't have come at a better time in light of the recovery in the agricultural and mining industry," Bank Windhoek added.
Chinese president meets top U.S. general
BRICS Seminar on Governance held in SE China
Tourists visit Summer Resort to avoid heat
China's Fuyang strives in developing rural tourism industry
Qiandaohu Lake in China's Zhejiang under stricter protection
Weekly choices of Xinhua photo (Aug. 5 - Aug. 11)
Highlights of multinational drill in Georgia
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HANOI, Sept. 6 (Xinhua) -- Three Vietnam's carriers Tuesday signed deals on purchase of 40 Airbus aircrafts from France.
At a signing ceremony witnessed by Vietnamese President Tran Dai Quang and the visiting French President Francois Hollande, the national flag carrier Vietnam Ai. Cheap Wholesale Jerseys Cheap Soccer Jerseys Cheap NHL Jerseys Wholesale Cheap Authentic MLB Jerseys Cheap NFL Jerseys Online Cheap Authentic NBA Jerseys Cheap College Jerseys Cheap Nike NBA Jerseys From China Wholesale Jerseys Online Cheap Womens Adidas NHL Jerseys
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