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.

This decision was made following a comprehensive review of domestic, regional, and global economic developments.

The Monetary Policy Committee (MPC) of the Bank of Namibia held its fifth bimonthly meeting for 2024 to decide on the appropriate monetary policy stance to be implemented over the next two months on the 14th and 15th of October 2024.