The Bank of Namibia has announced that it will maintain the repo rate at 6.50%.

The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to keep the repo rate unchanged at 6.5%. 

The Governor of the Bank of Namibia, Johannes !Gawaxab, announced this during the final Monetary Policy Announcement of the year.

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.

The repo rate has reduced by 25 basis points to seven percent. 

The Bank of Namibia has reduced the repo rate by 25 basis points from 7.5% to 7.25%. 

Commercial banks are expected to reduce their prime lending rates by the same margin, from 11.25% to 11%.

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.

The Bank of Namibia (BoN) this week increased the repo rate by 50 basis points, and this has made inflation the main talking point in households.

By historic standards, inflation is not at its highest, but it has become a more prevalent issue in 2023 than it was in 2016/17.

Namibians will have to tighten their belts even more as the central bank lifts the repo rate by another 50 basis points.

The repo rate now stands at 7.5%, up from 7.25%.

The Bank of Namibia (BoN) has announced that it will increase the repo rate by 25 basis points to 7.25% following a rise in inflation rates in March.