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

BoN cuts repo rate to 6,50 per cent

Contributed by NAMPA.

WINDHOEK, 14 AUG (NAMPA) The Monetary Policy Committee of the Bank of Namibia (BoN) has cut the repo rate by 25 basis points from 6,75 to 6,50 per cent.
Briefing the media here on Wednesday, BoN Governor Iipumbu Shiimi said the committee took the decision in order to support domestic economic activity and to maintain the one-to-one link between the Namibian Dollar and South African Rand.
The repo rate is the cost at which the central bank lends money to commercial banks and an increase or dec ...

 

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