Rising fuel prices, the threat of capital outflows, and the need to protect Namibia's international reserves have prompted the Bank of Namibia to raise its Repo rate by 25 basis points to 7%.

With the monetary policy announcement expected tomorrow, economist Rodney !Hoaeb hopes that the central bank will have consumers in mind, as the increment of the repo rate was already choking.
 

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.