car and loan instalments going up ..as cost of borrowing increases

Tujoromajo Kasuto The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab, has announced that the Monetary Policy Committee (MPC) has decided to raise the repo rate by 25 basis points to 4.25 percent following its bi-monthly meeting on April 11th and 12th. He notes that this will have an impact on all people who have home, car, and overdraft loans with banks. The monthly payment on all these items will go up by 0.25 percent. This is the second hike in the repo rate in succession. He further warned that because other lending and interest rates are linked to…