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%.

A member of the Parliamentary Standing Committee on Economy and Industry, Public Administration and Planning, George Kambala, has called for more information on consumer credit and its impact on civil servants.

The Otjozondjupa Governor has called for the regulation of interest charged by micro lenders but also to make the registration of cash loans smoother.

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 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.