Repo rate unchanged

The Bank of Namibia has decided to keep the Repo unchanged rate 6.5%.

Announcing the decision BoN Deputy Governor, Ebson Uanguta said the decision was driven by a moderation in installment credit at
household and continue support the domestic economy.

“While the MPC welcomes this recent moderation in installment credit extended to households, a large amount of these loans are still used to finance unproductive luxury goods, thus exerting additional pressure on the country’s international reserves,” He said.