Namibia, Kenya Central Banks Hold Interest Rates Steady Amid Economic Support

Sweden's Riksbank is expected to keep interest rates steady amid inflation pressures exceeding forecasts, with July's CPIF inflation at 3%, above the central bank's 2.5% target. Despite a slower recovery influenced by trade uncertainties and a cautious labor market, the Riksbank is unlikely to ease policy further this year. In Africa, the Central Bank of Kenya reduced its policy rate by 25 basis points to 9.5%, marking the seventh consecutive cut, while inflation remains within target. Meanwhile, Namibia's central bank held its repo rate at 6.75% for the third consecutive meeting to maintain the peg with the South African rand and support the domestic economy. Namibia's inflation is subdued at 3.5%, with a downward revision in GDP growth forecasts to 3.5% for 2025 due to challenges in agriculture and mining. The Bank of Namibia aims to balance economic growth and capital flow stability, expecting a narrowing interest rate differential with South Africa following South Africa's recent rate cut.