The Bank of Namibia has announced the maintenance of the repo rate at 7.75 percent, a decision coming on the heels of the recent drop in local fuel prices.

This move is expected to bring a sigh of relief across the nation amid economic challenges.

The repo rate will remain unchanged at 7.75% for the upcoming two months.

This announcement was made by Bank of Namibia (BoN) Governor Johannes !Gawaxab during the monetary policy declaration at Oshakati.