Namibia central bank cuts repo rate to 4.25 pct

Source: Xinhua | 2020-04-16

Namibia's central bank on Wednesday slashed the repo rate to 4.25 percent, down from 5.25 percent set at the last Monetary Policy Announcement on March 20.

The bank's interim governor, Ebson Uanguta, said the cut was made to cushion the people against anticipated impact of the COVID-19 outbreak.

The move will also help maintain the one-to-one link between the Namibia dollar and the South African rand, Uanguta said in a statement.