Africa-Press – Namibia. BANK Windhoek has increased its prime lending rate by 0,25% from 7,75% to 8, 00%.
In a statement, Bank Windhoek announced that the mortgage lending rate will also increase from 8,75% to 9,00%. The interest rate changes were effective as from Thursday, 14 April 2022.
Bank Windhoek’s head of funding and liquidity management Diederik Kruger said the worldwide inflationary pressure in the aftermath of the pandemic, coupled with geopolitical tension in the northern hemisphere in early 2022, has impacted the supply of goods in first world countries.
“The concerns surrounding the supply of natural gas and fuel oil have also impacted the price for the consumer and will in the coming months impact the price of all consumer goods that are dependent on long haul transportation,” he said.
Kruger said the expectations are that rates will continue to increase for the remainder of the year, and could be higher than expected if a new wave of lockdowns are introduced or if tensions in Europe develop further.
“Customers should be mindful of the increasing rates when entering into new loan agreements and plan accordingly,” he said.
For More News And Analysis About Namibia Follow Africa-Press
