Repo rate

05 Sep

Inflation to stabilise at 4.9%

ObserverObserver MoneyBank of Namibia, Repo rate, Simonis Storm Security

CHAMWE KAIRA Simonis Storm Security projections suggest that inflation will stabilise at around 4.9% by the end of the year. The Bank of Namibia's monetary policy committee decided to implement a 25 basis point rate cut at its last meeting, reducing the repo rate to 7.50% and the prime rate to 11.25%. Simonis said although these rates remain relatively elevated, the reduction offers some relief to Namibian households and businesses by lowering borrowing costs. “Despite this rate cut, we anticipate that private sector credit extension growth will remain modest in the near term. This is due to the lag effect…

BoN maintains Repo rate at 3.75 percent

ObserverUncategorisedJohannes Gawaxab, Monetary Policy Committee (MPC), Repo rate

Staff Writer The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to keep the Repo rate unchanged at 3.75 percent. “This decision was taken following a review of global, regional and domestic economic and financial developments. The MPC is of the view that the rate remains appropriate to continue supporting domestic economic activity, while at the same time safeguarding the one-to-one link between the Namibia Dollar and the South African Rand,” BON Governor, Johannes !Gawaxab announced on Wednesday. !Gawaxab said the domestic economic activity declined during the first ten months of 2020 and is forecasted to register…