BoN reduces repo rate

BoN reduces repo rate
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NAMPA

The Monetary Policy Committee (MPC) of the Bank of Namibia (BoN) cut the repo rate by 25 basis points to 6,25%.
The MPC took the decision to support domestic economic activity and to maintain the one-to-one link between the Namibia Dollar and the South African Rand.
Global economic growth is estimated to have slowed in 2019 compared to 2018.
Repo rate is the rate at which the central bank of a country lends money to commercial banks