Repo rate remains at 6,7%

Repo rate remains at 6,7%
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Nampa

The repo rate remains unchanged at 6,75%.
Bank of Namibia Governor Iipumbu Shiimi announced the decision on Wednesday saying that it followed a review of global, regional and domestic economies, along with financial developments.
The repo rate refers to the rate at which commercial banks borrow money from the reserve bank.
It is used by the central bank to keep inflation under control.
Shiimi says this rate was considered appropriate to maintain the one-to-one link between the Namibian Dollar and the South African Rand.
In addition, he says the current arrangement will continue to support domestic economic growth.