13th August 2026  /  EAGLE FM

Repo Rate Holds at 6.75% as Growth Outlook Falls

The Governor of the Bank of Namibia (BoN), Ebson Uanguta, has indicated that the Monetary Policy Committee (MPC) of the Bank of Namibia has unanimously decided to maintain the repo rate at 6.75%. Uanguta noted that the decision to keep the repo rate unchanged was based on the need to safeguard the peg between the Namibian dollar and the South African rand.

The country’s economic growth forecast has been lowered, with growth expected to recover from 1.7% to 2.1% in 2026, which is 0.5 percentage points below previous projections. The central bank chief has noted that the downward revision was a result of contractions in primary industries. He further highlighted downside risks to the economic outlook, including slower global growth, the Foot-and-Mouth disease outbreak in neighboring countries, and the potential for El Niño conditions.