The Bank of Namibia (BoN) has opted to reduce the repo from 7,75 to 7,50.
During the announcement in Windhoek on Wednesday, central bank governor Johannes !Gawaxab said the decision was taken after four Monetary Policy Committee (MPC) members voted for a reduction.
!Gawaxab said inflation has been easing, although at a slower rate, therefore a rate cut was considered.
“This policy stance will continue to support domestic economic activity and safeguard the currency peg with the South African rand,” he said.
According to !Gawaxab, risks to the domestic economy have remained broadly unchanged since the last MPC meeting.
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