Namibians are expected to feel the pain of the forecasted 100bps hike in the repo rate before the end of 2022. Economic research firm Simonis Storm said the Bank of Namibia hike will drive up average mortgage and vehicle loan rates from 9.5% and 10.5%, to 10.5% and 11.5% respectively by 4Q2022. Simonis Storm economist Theo Klein warned that should house prices continue to decline, borrowing capacities should deteriorate further, which would lead to less consumer spending.