{"id":27880,"date":"2022-08-17T16:16:13","date_gmt":"2022-08-17T16:16:13","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs"},"modified":"2022-08-17T16:34:43","modified_gmt":"2022-08-17T16:34:43","slug":"navigating-market-volatility-surging-inflation-and-higher-borrowing-costs","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs","title":{"rendered":"Navigating Market Volatility, Surging Inflation and Higher Borrowing Costs"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Josef Sheehama<\/p>\n

NAMIBIA’S INFLATION HIT 6,8% as prices kept surging in July, up from 4% recorded in July 2021, largely driven by increases in food, transport and non-alcoholic beverages.<\/p>\n

Josef Sheehama<\/p>\n

NAMIBIA’S INFLATION HIT 6,8% as prices kept surging in July, up from 4% recorded in July 2021, largely driven by increases in food, transport and non-alcoholic beverages.<\/p>\n

The most likely outlook remains a continuation along the current path of economic stagnation and worsening of Namibia’s prolonged financial crisis. Right now, we know volatility is high, meaning markets are rather ’emotional’.<\/p>\n

The escalating war between Russia and Ukraine could increase the price of cars as Namibians demand more new cars.<\/p>\n

The City of Windhoek has approved a 7,8% tariff increase from 1 July to ensure sustainable electricity at affordable tariffs.<\/p>\n

The higher costs come at a time when banks’ interest rates rise, and fuel and food prices keep increasing.<\/p>\n

The cost-of-living crisis will deepen inequalities in Namibia, and yet no political party is talking seriously about addressing the enormity of this challenge or fixing our broken social safety net.<\/p>\n

I am talking about people in genuine distress, who haven’t got the money to pay their bills.<\/p>\n

Human beings, on top of having a right to water, have a right to light and warmth.<\/p>\n

It is unclear how long the cost-of-living crisis will last.<\/p>\n

The world’s ability to foster collective action in the face of urgent major crises has reached crisis levels, with worsening international relations hindering action across a growing array of serious challenges.<\/p>\n

Meanwhile, a darkening economic outlook, in part caused by geopolitical tensions, looks set to further reduce the potential for international cooperation in 2022\/23.<\/p>\n

Additionally, as inflation rises, it erodes the spending power of your hard-earned cash.<\/p>\n

So it’s important to make sure your money is working hard for you. But it’s almost impossible to find a savings account to beat inflation at the moment.<\/p>\n

Everyone’s going to be hit, and it will involve a big squeeze for everybody. It’s going to be a catastrophe for lower-income households if nothing changes.<\/p>\n

The status quo will not only disrupt the industry, but will further suppress economic recovery.<\/p>\n

This means Namibia will increase its repo rate.<\/p>\n

It should be noted that although much of this inflationary pressure is supply based, there is merit in increasing interest rates as a tool to try and slow down inflation.<\/p>\n

The reserve banks’ monetary policy committee could increase the repo rate by 0,75% basis points today.<\/p>\n

Volatility in global commodity prices and ongoing supply-chain disruption will continue to stoke price pressures.<\/p>\n

However, one of the most serious repercussions resulting from such a heavy interest rate increase is the threat to food security, as such a sharp increase will once again drive up the price of basic foodstuff, leaving even more Namibians food vulnerable.<\/p>\n

Money will become very expensive.<\/p>\n

It would also increase the cost of loans, cutting what consumers have available to spend elsewhere.<\/p>\n

Those who are saving money would see higher interest payments benefiting their investments.<\/p>\n

The ongoing challenge of inflation emerged about almost 12 months ago.<\/p>\n

What started as supply disruptions affecting a few products in a few sectors, has broadened to include a wide range of everyday items.<\/p>\n

High inflation for extended periods can also complicate the the Bank of Namibia’s ability to bring inflation back to our target inflation rate.<\/p>\n

That’s because inflation can become self-fulfilling if it leads households and businesses to expect higher inflation in the future.<\/p>\n

The economy is still on a weakish footing, with not all sectors in positive-growth territory, and consumers remain under pressure with higher inflation and higher interest rates.<\/p>\n

My expectation is that inflation will probably peak at around 7,5% in October, and then slightly scale down near the end of 2022.<\/p>\n

The longer inflation remains well above our target, the more likely it is to feed into inflation expectations, and the greater the risk that inflation becomes self-fulfilling.<\/p>\n

History shows that once high inflation is entrenched, bringing it back down without severely hampering the economy is hard.<\/p>\n

Preventing high inflation from becoming entrenched is much more desirable than trying to quash it once it’s there.<\/p>\n

Going forward, monetary policy in Namibia is oriented towards keeping inflation low and stable.<\/p>\n

The set of inflationary forces linked mainly to supply and stemming mostly from international developments is more complicated for monetary policy to control.<\/p>\n

This is especially so in a small, open economy such as Namibia.<\/p>\n

These forces were evident last year, and further escalated in February 2022.<\/p>\n

Supply shortages and disruptions emerged as much of the world economy reopened after the initial lockdowns caused by the Covid-19 pandemic.<\/p>\n

The war in Ukraine has further amplified supply issues, while also causing prices for oil, wheat, fertiliser and other production inputs to soar.<\/p>\n

The entire economic sector is facing inflation in pretty much every aspect of business.<\/p>\n

This means rises in the prices of raw materials, packaging and transportation, and labour unrest.<\/p>\n

This unusually high uncertainty will translate into volatile energy prices and financial markets over the next five to seven months.<\/p>\n

That could create its own feedback loop, driving prices higher.<\/p>\n

It’s of concern, because when you’re battling inflation on multiple fronts it’s not just the supply chain, it’s not just the labour unrest, but now you’ve got the consumer in the blend, which just increases the difficulty in bringing inflation under control.<\/p>\n

To that end, the consumer’s purse strings is slowly being tightened by high inflation, rising borrowing costs, and dismal confidence.<\/p>\n

Namibians and the economy have been through a lot in the past five years \u2013 the extreme and uneven economic effects of the technical recession, drought, the pandemic, then the moderate recovery, the Russia-Ukraine unrest, and now persistent high inflation.<\/p>\n

It is a very difficult time for many people all over Namibia to walk that tightrope.<\/p>\n

* Josef Sheehama is a banking industry professional with 19 years’ experience. He writes in his personal capacity.<\/p>\n

The most likely outlook remains a continuation along the current path of economic stagnation and worsening of Namibia’s prolonged financial crisis. Right now, we know volatility is high, meaning markets are rather ’emotional’.<\/p>\n

The escalating war between Russia and Ukraine could increase the price of cars as Namibians demand more new cars.<\/p>\n

The City of Windhoek has approved a 7,8% tariff increase from 1 July to ensure sustainable electricity at affordable tariffs.<\/p>\n

The higher costs come at a time when banks’ interest rates rise, and fuel and food prices keep increasing.<\/p>\n

The cost-of-living crisis will deepen inequalities in Namibia, and yet no political party is talking seriously about addressing the enormity of this challenge or fixing our broken social safety net.<\/p>\n

I am talking about people in genuine distress, who haven’t got the money to pay their bills.<\/p>\n

Human beings, on top of having a right to water, have a right to light and warmth.<\/p>\n

It is unclear how long the cost-of-living crisis will last.<\/p>\n

The world’s ability to foster collective action in the face of urgent major crises has reached crisis levels, with worsening international relations hindering action across a growing array of serious challenges.<\/p>\n

Meanwhile, a darkening economic outlook, in part caused by geopolitical tensions, looks set to further reduce the potential for international cooperation in 2022\/23.<\/p>\n

Additionally, as inflation rises, it erodes the spending power of your hard-earned cash.<\/p>\n

So it’s important to make sure your money is working hard for you. But it’s almost impossible to find a savings account to beat inflation at the moment.<\/p>\n

Everyone’s going to be hit, and it will involve a big squeeze for everybody. It’s going to be a catastrophe for lower-income households if nothing changes.<\/p>\n

The status quo will not only disrupt the industry, but will further suppress economic recovery.<\/p>\n

This means Namibia will increase its repo rate.<\/p>\n

It should be noted that although much of this inflationary pressure is supply based, there is merit in increasing interest rates as a tool to try and slow down inflation.<\/p>\n

The reserve banks’ monetary policy committee could increase the repo rate by 0,75% basis points today.<\/p>\n

Volatility in global commodity prices and ongoing supply-chain disruption will continue to stoke price pressures.<\/p>\n

However, one of the most serious repercussions resulting from such a heavy interest rate increase is the threat to food security, as such a sharp increase will once again drive up the price of basic foodstuff, leaving even more Namibians food vulnerable.<\/p>\n

Money will become very expensive.<\/p>\n

It would also increase the cost of loans, cutting what consumers have available to spend elsewhere.<\/p>\n

Those who are saving money would see higher interest payments benefiting their investments.<\/p>\n

The ongoing challenge of inflation emerged about almost 12 months ago.<\/p>\n

What started as supply disruptions affecting a few products in a few sectors, has broadened to include a wide range of everyday items.<\/p>\n

High inflation for extended periods can also complicate the the Bank of Namibia’s ability to bring inflation back to our target inflation rate.<\/p>\n

That’s because inflation can become self-fulfilling if it leads households and businesses to expect higher inflation in the future.<\/p>\n

The economy is still on a weakish footing, with not all sectors in positive-growth territory, and consumers remain under pressure with higher inflation and higher interest rates.<\/p>\n

My expectation is that inflation will probably peak at around 7,5% in October, and then slightly scale down near the end of 2022.<\/p>\n

The longer inflation remains well above our target, the more likely it is to feed into inflation expectations, and the greater the risk that inflation becomes self-fulfilling.<\/p>\n

History shows that once high inflation is entrenched, bringing it back down without severely hampering the economy is hard.<\/p>\n

Preventing high inflation from becoming entrenched is much more desirable than trying to quash it once it’s there.<\/p>\n

Going forward, monetary policy in Namibia is oriented towards keeping inflation low and stable.<\/p>\n

The set of inflationary forces linked mainly to supply and stemming mostly from international developments is more complicated for monetary policy to control.<\/p>\n

This is especially so in a small, open economy such as Namibia.<\/p>\n

These forces were evident last year, and further escalated in February 2022.<\/p>\n

Supply shortages and disruptions emerged as much of the world economy reopened after the initial lockdowns caused by the Covid-19 pandemic.<\/p>\n

The war in Ukraine has further amplified supply issues, while also causing prices for oil, wheat, fertiliser and other production inputs to soar.<\/p>\n

The entire economic sector is facing inflation in pretty much every aspect of business.<\/p>\n

This means rises in the prices of raw materials, packaging and transportation, and labour unrest.<\/p>\n

This unusually high uncertainty will translate into volatile energy prices and financial markets over the next five to seven months.<\/p>\n

That could create its own feedback loop, driving prices higher.<\/p>\n

It’s of concern, because when you’re battling inflation on multiple fronts it’s not just the supply chain, it’s not just the labour unrest, but now you’ve got the consumer in the blend, which just increases the difficulty in bringing inflation under control.<\/p>\n

To that end, the consumer’s purse strings is slowly being tightened by high inflation, rising borrowing costs, and dismal confidence.<\/p>\n

Namibians and the economy have been through a lot in the past five years \u2013 the extreme and uneven economic effects of the technical recession, drought, the pandemic, then the moderate recovery, the Russia-Ukraine unrest, and now persistent high inflation.<\/p>\n

It is a very difficult time for many people all over Namibia to walk that tightrope.<\/p>\n

* Josef Sheehama is a banking industry professional with 19 years’ experience. He writes in his personal capacity.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Josef Sheehama NAMIBIA’S INFLATION HIT 6,8% as prices kept surging in July, up from 4% recorded in July 2021, largely driven by increases in food, transport and non-alcoholic beverages. Josef Sheehama NAMIBIA’S INFLATION HIT 6,8% as prices kept surging in July, up from 4% recorded in July 2021, largely driven by increases […]<\/p>\n","protected":false},"author":84,"featured_media":27879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,6,8,16],"tags":[234,236,233],"class_list":["post-27880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNavigating Market Volatility, Surging Inflation and Higher Borrowing Costs - Namibia<\/title>\n<meta name=\"description\" content=\"Josef Sheehama NAMIBIA'S INFLATION HIT 6,8% as prices kept surging in July, up from 4% recorded in July 2021, largely d ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navigating Market Volatility, Surging Inflation and Higher Borrowing Costs\" \/>\n<meta property=\"og:description\" content=\"Josef Sheehama NAMIBIA'S INFLATION HIT 6,8% as prices kept surging in July, up from 4% recorded in July 2021, largely d ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-17T16:16:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-17T16:34:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/08\/postQueueImg_27-62fd188474636.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"422\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Navigating Market Volatility, Surging Inflation and Higher Borrowing Costs\",\"datePublished\":\"2022-08-17T16:16:13+00:00\",\"dateModified\":\"2022-08-17T16:34:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs\"},\"wordCount\":1957,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/08\/postQueueImg_27-62fd188474636.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/navigating-market-volatility-surging-inflation-and-higher-borrowing-costs\",\"name\":\"Navigating Market Volatility, Surging Inflation and Higher Borrowing Costs - 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