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ECONOMICAL

 Repo Rate Cut 6.75% as Bank of Namibia Seeks to Boost Economic Activity

The Bank of Namibia (BoN) announced a reduction in its repo rate by 25 basis points, bringing it down to 6.75% its fourth consecutive cut. The decision aims to support economic growth amid easing inflation and to maintain stability in financial markets.
The repo rate cut was approved following a meeting of the Monetary Policy Committee (MPC) on 10-11 February with Governor Johannes !Gawaxab nothing that inflation had moderated. Annual inflation fell to 3.2% in January down from 3.4% in December. Expectation for 2025 is that inflation will average around 4.0%.
Four of the six MPC members supported the decision. The two dissenting members cited concerns about policy uncertainty and the persistence of some price pressures in certain sectors. Despite the reduction, the Namibian dollar remains pegged to the South African rand and the bank Emphasized that any monetary easing must preserve that linkage.
The effect of the lower repo rate is expected to be seen in lower lending rates by commercial banks, potentially making credit more accessible for businesses and consumers. Analysts believe the cut could help stimulate consumer spending and investment especially in sectors that had been constrained by high borrowing costs.
Pride Siyauya  

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