Repo rate up again by 50 basis points

Contributed by NAMPA.

OTJIWARONGO, 30 NOV (NAMPA) – The Bank of Namibia (BoN) on Wednesday announced an immediate increase to the repo rate by 50 basis points.
The increased repo rate now translates into lending rates of money by the central bank of Namibia to the local commercial banks from 6.25 per cent to 6.75 per cent.
In a media statement on Wednesday, BoN said the decision to increase the repo rate was necessitated by the inflation pressure.
The decision was taken at the meetings held in the capital on Mo ...