Repo rate remains unchanged

14 Feb 2018 13:50pm
WINDHOEK, 14 FEB (NAMPA) - The Bank of Namibia (BoN) has kept the repo rate unchanged at 6.75 per cent.
The decision was taken after a review of global, regional and domestic economic and financial developments.
BoN Governor Ipumbu Shiimi said during the first Monetary Policy announcement for 2018 here on Wednesday, the repo rate at this level remains appropriate to support and maintain the one-to-one link between the Namibian Dollar and South African Rand.
He said the central bank also deemed it appropriate to continue supporting domestic economic growth.
The repo rate is the cost at which the central bank lends money to commercial banks and an increase or decrease in that rate is most likely to affect the interest rate that commercial banks charge consumers.