The Bank of Namibia has again increased the repo rate, this time by 50 basis points, from 5.5 to 6.75 percent.

Governor Johannes !Gawaxab says the raise is done in an effort to anchor inflation expectations as well as safeguard the one-on-one peg arrangement with South Africa.

!Gawaxab says the decision was taken following a comprehensive review of global, regional, and domestic economic developments.

There was a need, he says, to strike a balance between controlling inflation expectations and supporting the domestic economy's recovery.

The Bank of Namibia has decided to increase the repo rate by 75 basis points to 6.25%