Repo rate raised for the fifth time

Staff Writer The Bank of Namibia’s Monetary Policy Committee (MPC) today raised the repo rate by 75 basis points from 5.50 percent to 6.25 percent for the fifth time this year. At the beginning of this year the country’s rate was 3.75 before it was raised by 25 basis points to 4%. The central bank kept the repo rate at 3.75 percent for the whole of 2021, the lowest the country has enjoyed in a long time. However, since the beginning of this year on 16 February it started pushing it up and has raised it cumulatively by 250 basis…