Wednesday 1 April 2020
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allafrica.com - 6 days ago

Namibia: Repo Rate Cut to 5.25% to Cushion Impact of COVID-19

[New Era] The Bank of Namibia s (BoN s) Monetary Policy Committee (MPC) on Friday cut the repo rate by 100 basis points, from 6.25% to 5.25% to help cushion the anticipated impact of Covid-19 and support domestic economic activity, while maintaining the one-to-one link between the Namibia Dollar and the South African Rand. The Repo rate is the level at which commercial bank s borrow money from the central bank, and it determines the interest rate customers are offered by these banks.


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