drop in consumer inflation

Martin Endjala The Bank of Namibia has reduced the repo rate by 25 basis points, lowering it from 7.50% to 7.25%, a move attributed to the drop in consumer inflation, which fell to 3.4% in September. According to economist Josef Sheehama, who responded to the Monetary Policy Committee's (MPC) announcement, lower fuel prices, driven by declining oil prices and a stronger Namibian dollar, have been key factors in this cooling of inflation. "The interest rate cut will undoubtedly relieve pressure on all Namibians," Sheehama said. He believes the decrease in consumer inflation influenced the MPC’s decision to lower the repo…