The Bank of Namibia (BoN) has announced a 25-basis point increase in the repo rate to 6.75%. The move came in light of rising inflation, global economic uncertainty, and the need to protect the currency peg between the Namibian dollar and the South African rand.
The Bank of Namibia has announced that it will maintain the repo rate at 6.50%.
The Bank of Namibia has reduced its main interest rate by 25 basis points, to 6.5%, after previously keeping its lending rate unchanged for three consecutive monetary policy meetings.
President Netumbo Nandi-Ndaitwah has called on the Bank of Namibia and the Ministry of Finance to release regulations ensuring that fees and charges by commercial banks serve the public interest.
