Namibia’s Central Bank Reduces Benchmark Rate to 6%

Namibia’s central bank cut its benchmark interest rate by three-quarters of a percentage point to boost growth as inflation remains close to a five-year low.

The repurchase rate was reduced to 6 percent, Bank of Namibia Governor Ipumbu Shiimi told reporters today in the capital, Windhoek. The drop is the second in two meetings after the bank reduced the rate by 25 basis points in October. It also follows a cut in South Africa’s repo rate to 5.5 percent on Nov. 18.