BoN drops repo rate

Contributed by NAMPA.

WINDHOEK, 16 AUG (NAMPA) –The Bank of Namibia (BoN) on Wednesday announced that it has cut the repo rate by 25 basis points (0.25 per cent) to 6.75 per cent.
Speaking at the second Monetary Policy announcement for 2017, BoN Deputy Governor Ebson Uanguta said the Bank decided to support domestic economic growth, while maintaining the one-to-one link between the Namibia Dollar and the South Africa Rand.
Uanguta said the domestic economy remained weak during the first six months of 2017.
“The ...