The Namibia Press Agency, (NAMPA), was established in 1991 as a national news agency responsible for the distribution of local, regional and international news.

Repo rate up again by 50 basis points

Repo rate up again by 50 basis points

Written by Mulisa Simiyasa on 30 November 2022.

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 Monday and Tuesday b ...