Repo rate remains unchanged at 6,75%

Repo rate unchanged at 6,75 per cent

The Monetary Policy Committee (MPC) of the Bank of Namibia has kept the Repo Rate unchanged at 6,75%.
The Governor of the Central Bank, Ipumbu Shiimi, says the repo rate remained unchanged to continue supporting domestic growth while maintaining the one-on-one link between the Namibian Dollar and the South African Rand.
The decision was taken following a review of the regional, global and domestic economic developments by the Monetary Policy Committee.
Shiimi says the risks to the global outlook remains and is attributed to the impact of trade tensions, a decline in business confidence and higher policy uncertainty across many countries.
Domestic economic activities, on the other hand, reflect a slowdown in sectors such as mining, agriculture, construction, wholesale and retail.
Shiimi is, however, adamant that the country is on the right track especially with its fiscal consolidation policy.