In the News

/In the News

October 2018

Namibia: Repo Rate Left Unchanged At 6.75 Percent

By |2019-01-14T09:58:09+00:0025th October 2018|

By Staff Reporter WINDHOEK - In these trying economic times some relief for consumers came yesterday when the Bank of Namibia's Monetary Policy Committee (MPC) left the repo rate unchanged at 6.75 percent. According to the MPC, this rate is appropriate to maintain the one-to-one link between the Namibia Dollar and the South African Rand, while [...]

July 2018

Global events shake African stocks while inflation remains stable

By |2018-07-11T17:48:44+00:002nd July 2018|

By Southern Times Correspondent   African markets have felt the wave of the different global events that occurred last week. On 15 June 2018, the US Federal Reserve hiked rates by 25bps, responding to good economic conditions and ongoing steady growth outlook in the US which saw the gold price dropping and some stocks and currencies [...]

June 2018

Repo rate maintained at 6.75%

By |2018-07-11T17:30:37+00:0014th June 2018|

By Staff Reporter   WINDHOEK – The Bank of Namibia’s Monetary Policy Committee (MPC) has decided to leave the Repo rate unchanged at 6.75 percent. This decision was taken to safeguard the level of foreign reserves and support domestic economic growth, while maintaining the one-to-one link between the Namibian Dollar and the South African Rand. Making [...]

Namibia holds rate, sees slightly stronger 2018 growth

By |2018-07-11T19:52:25+00:0014th June 2018|

        Written by Central Bank News Namibia's central bank left its benchmark repo rate at 6.75 percent and said it still expects the domestic economy to perform "slightly better in 2018 compared to 2017" despite slow activity in the first quarter. The Bank of Namibia (BON), which has kept its rate steady since cutting [...]

December 2017

Repo announcement ‘no surprise’

By |2018-03-13T08:17:30+00:007th December 2017|

by Denver Kisting   DANIEL Kavishe, an economist at FNB Namibia, yesterday afternoon said the decision by Bank of Namibia (BoN) to leave the repo rate unchanged at 6,75% came as no surprise.   Upon enquiry, Kavishe said: “It was widely expected.” Briefing reporters in the capital yesterday morning, BoN governor Iipumbu Shiimi said the central bank's [...]

October 2017

Interest rates to stay put – repo rate maintained at 6.75%

By |2018-03-12T21:25:16+00:0025th October 2017|

by Intern   The Bank of Namibia maintained the repo rate unchanged at 6.75%, Governor of the Bank, Iipumbu Shiimi said on Wednesday.   The Monetary Policy Committee took the decision following a review of global, regional and domestic economic and financial developments.   “This level is deemed appropriate to continue supporting domestic economic growth, while maintaining [...]

Headline inflation sends disturbing signal of underlying inflationary pressures continuing

By |2018-03-13T08:17:54+00:0012th October 2017|

by Daniel Steinmann   Although one month is too short a period to determine a trend, headline inflation for September 2017 surprised on the upside rising by twenty basis points to 5.6% compared to August and July when monthly inflation, measured year on year, in both months stabilised at 5.4%. However, compared to September 2016 when headline [...]

DUNES MALL TO OPEN NOVEMBER 2017

By |2018-03-13T08:19:44+00:009th October 2017|

by Madelaine Laubscher   The construction of the Dunes Mall development will comence shortly, after the development site handover yesterday between Safland Property Group and Afrideca Construction.  

August 2017

GOBABIS READY FOR INVESTORS

By |2018-03-13T08:20:36+00:0024th August 2017|

by Staff Reporter   Gobabis Deputy Mayor Cornelius Tjizoo has called on local businesspeople to consider investing in the town to uplift residents’ living standards.   Tjizoo said the town has modern communication, roads and other infrastructure that allow for smooth business activities and pose great potential for development.   The deputy mayor was speaking on [...]

BMI FORECASTS 3% REAL GDP GROWTH, EXPECTS MORE RATE CUTS

By |2018-03-13T08:24:14+00:0021st August 2017|

by Daniel Steinmann For the first time since the budgetary crisis of 2016, a reputable market research firm has come out with a growth estimate which would put the Namibian economy on a solid footing for recovery.   BMI Research, a unit of the Fitch Group, said last week Friday in a report on local interest [...]