At its meeting held on October 22, The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 5.50 percent, to support the domestic economy.
In line with the global growth outlook, economic growth in Namibia is expected to slow in 2013 when compared to 2012.
Inflation slowed in September and is expected to remain with tolerable levels.
“The MPC is of the view that the repo rate needs to be maintained at the current level to support the domestic economy, and mitigate the impact of suppressed prices for the key Namibian exports.” The bank said.
The next meeting of the MPC will be held on December 11,2013.
