The Bank of Namibia on Wednesday, 16 February raised the repo rate to 4% from 3.75%, saying this is a step towards normalising the current negative real interest rate environment and establishing a positive real interest rate that is conducive to long-term economic growth.

Namibia's central bank left its benchmark interest rate steady for the second time and raised its forecast for economic growth this year and 2021 while maintaining its forecast for inflation.

Namibia's central bank lowered its benchmark repo rate for the fourth time this year, saying this decision balances the need for further monetary stimulus in the face of the pandemic-induced weakness in the economy against the importance of not undermining savings and investment decisions.

Namibia's central bank cut its benchmark repo rate by another 25 basis points to 6.25 percent, its third rate cut in the current easing cycle, saying this is "to support domestic economic activity and to maintain the one-to-one link between the Namibia Dollar and the South African Rand."