Namibia’s central bank cuts rates to record low
Central bank acts to preserve link to South African currency as it reintroduces lockdown measures
Namibia’s central bank has lowered its policy rate to its lowest-ever level, while re-introducing tough quarantine rules to protect its staff from Covid-19.
The Bank of Namibia announced only essential staff would be allowed onto its premises on June 17, after two employees possibly came into contact with a Covid-19 patient.
On June 17, the Bank of Namibia’s monetary policy committee announced a 25 basis point reduction in the repo rate to 4%. The level is a new historic low for the central
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