纳米比亚股票指数 (NSXOverall) 加自选

纳米比亚银行在2025年10月的会议上将基准回购利率下调25个基点至6.5%，旨在支持国内经济，同时维护纳米比亚元与南非兰特之间的挂钩。年度GDP增长率意外下滑，从上一季度的2.8%放缓至第二季度的1.6%，这主要是由于制造业、渔业和农业部门的表现疲软。现在预计2025年的经济增长将比2024年的3.7%有所减弱，下行风险变得更加明显。与此同时，通货膨胀仍得到很好的控制，今年前八个月平均为3.6%。2025年和2026年的通胀预测分别下调了0.2个百分点，至3.6%和4.0%，反映了更强劲的汇率假设和更低的油价前景。

The Bank of Namibia cut its benchmark repo rate by 25bps to 6.5% during its October 2025 meeting, aiming to support the domestic economy while safeguarding the peg between the Namibia Dollar and the South African Rand. Annual GDP growth has surprised on the downside, slowing to a post-pandemic low of 1.6% in the second quarter from 2.8% in the previous quarter, largely due to weak performance in the manufacturing, fishing, and agriculture sectors. Economic growth for 2025 is now projected to weaken from the 3.7% recorded in 2024, with downside risks becoming more pronounced. Meanwhile, inflation remains well contained, averaging 3.6% during the first eight months of the year. Inflation forecasts for both 2025 and 2026 have been revised down by 0.2 percentage point to 3.6% and 4.0%, respectively, reflecting a stronger exchange rate assumption and a lower oil price outlook.

纳米比亚的年通货膨胀率从上个月的七个月低点3.2%上升到2025年9月的3.5%。这一增长主要是由于运输成本反弹（8月份为1.3%对-1.0%），以及住房和公用事业价格上涨（3.6%对3.4%）、服装和鞋类价格上涨（1.9%对1.5%）、娱乐和文化价格上涨（4.0%对3.8%）以及酒店、咖啡馆和餐馆价格上涨（4.2%对3.8%）。与此同时，食品和非酒精饮料（4.9%对5.2%）、酒精饮料和烟草（4.9%比5.5%）、家具和家用设备（1.6%对2.0%）、杂项商品和服务（3.0%对3.5%）以及健康（3.1%对3.4%）的通货膨胀有所缓解。按月计算，消费者价格连续第二个月保持不变。

Namibia's annual inflation rate rose to 3.5% in September 2025, from a seven-month low of 3.2% in the prior month. The increase was mainly driven by a rebound in transport costs (1.3% vs -1.0% in August), along with higher prices for housing and utilities (3.6% vs 3.4%), clothing and footwear (1.9% vs 1.5%), recreation and culture (4.0% vs 3.8%), and hotels, cafés and restaurants (4.2% vs 3.8%). Meanwhile, inflation eased for food and non-alcoholic beverages (4.9% vs 5.2%), alcoholic beverages and tobacco (4.9% vs 5.5%), furnishings and household equipment (1.6% vs 2.0%), miscellaneous goods and services (3.0% vs 3.5%), and health (3.1% vs 3.4%). On a monthly basis, consumer prices were unchanged for the second consecutive month.

2025年第二季度，纳米比亚经济同比增长1.6%，较前一时期向上修正的2.8%有所放缓。这是自2021年第一季度出现3.5%的收缩以来最慢的增长速度，受到制造业（-9.7%对-1.3%）、渔业活动（-4.4%对-7.3%）和农业与林业（-3.5%对-20.1%）表现不佳的阻碍。与此同时，一些活动的产出明显放缓，主要是行政和支持服务（0.9%对5.7%）；健康（3%对11.4%）；运输和仓储（1.1%对4.6%）以及房地产和专业服务（1.6%对2.1%）。

The economy of Namibia expanded by 1.6% year-on-year in Q2 2025, decelerating from an upwardly revised 2.8% advance in the previous period. This marked the slowest pace of growth since a 3.5% contraction observed in Q1 2021, hindered by poor performance in manufacturing (-9.7% vs -1.3% in Q1), fishing activities (-4.4% vs -7.3%) and agriculture & forestry (-3.5% vs -20.1%). At the same time, output slowed markedly in some activities, primarily administrative & support services (0.9% vs 5.7%); health (3% vs 11.4%); transport & storage (1.1% vs 4.6%) and real estate and professional services (1.6% vs 2.1%).

纳米比亚央行在2025年8月的会议上将关键贷款利率稳定在6.75%，这是自4月以来连续第三次保持不变。政策制定者表示，这一决定旨在维护纳米比亚元与南非兰特的挂钩，同时支持国内增长。纳米比亚在南非7月降息后保持不变，进一步缩小了利率差距，其回购利率现在降低了25个基点——货币政策委员会认为这一优势将有助于经济增长，同时保持资本流动的稳定。纳米比亚的通货膨胀率从6月份的3.7%降至2025年7月的3.5%。预计2025年和2026年的平均通货膨胀率分别为3.8%和4.2%，均比之前的预测低0.1个百分点，反映了假设的原油价格下降。预计2025年和2026年的实际GDP增长率分别为3.5%和3.9%，与4月份相比分别下调了0.3和0.1个百分点，反映了第一产业的放缓，尤其是牲畜补充。

Namibia's central bank maintained its key lending rate steady at 6.75% during its August 2025 meeting, marking a third straight hold since April. Policymakers said the decision was designed to safeguard the Namibian Dollar’s peg to the South African Rand while supporting domestic growth. By standing pat following South Africa’s July rate cut, Namibia has further closed the interest rate gap, with its repo rate now 25 basis points lower—an advantage the MPC believes will aid growth while preserving capital flow stability. Namibia's inflation rate edged down to 3.5% in July 2025 from 3.7% in June. Inflation is forecast to average 3.8% in 2025 and 4.2% in 2026, each 0.1 percentage point below earlier projections, reflecting lower assumed crude oil prices. Real GDP growth is forecast at 3.5% in 2025 and 3.9% in 2026, revised down 0.3 and 0.1 percentage points from April, reflecting a slowdown in primary industries—especially livestock restocking.