The Bank of Namibia (BoN) has announced a decrease in the repo rate by 25 basis points to 7.25% to continue supporting the domestic economy while simultaneously safeguarding the peg between the Namibia Dollar and the South African Rand.

The Bank of Namibia has reduced the repo rate by 25 basis points from 7.75% to 7.50%.

The central bank's decision aims to strengthen domestic economic activity and maintain the stability of the Namibia Dollar's peg to the South African Rand, supported by sufficient international reserves.

The repo rate is expected to go down by 25 basis points towards the end of the year.

FNB Namibia Economist, Ruusa Nandago, said this during the Economic Breakfast with FNB Commercial.