BoN cuts repo rate to 6.25 per cent
Contributed by NAMPA.
WINDHOEK, 19 FEB (NAMPA) – Bank of Namibia has cut the repo rate by 25 basis points from 6.50 to 6.25 per cent, BoN Governor Ipumbu Shiimi announced on Wednesday.
The announcement followed the first Monetary Policy Committee (MPC) meeting of the year, which took place on Tuesday.
The repo rate is the rate at which the BoN lends money to commercial banks in the event of a shortfall.
The MPC took the decision on Tuesday in order to support domestic economic activity and to maintain the one- ...