The Bank of Namibia (BoN) is expected to uphold the current repo rate of 7.75% during Wednesday’s monetary policy announcement, aligning with the momentum set in February’s pronouncement, analysts have projected. The BoN’s Monetary Policy Committee (MPC) is expected to maintain the repo rate until South Africa’s cutting cycle resumes in the second half of...
Staff reporter THE Ministry of Mines and Energy (MME) on Monday announced that both petrol and diesel prices will remain unchanged. MME in a statement said this is despite the substantial under-recovery of 153c/l for petrol, as well as 114c/l for diesel 50ppm and 106c/l for diesel 10ppm. The National Energy Fund (NEF) will absorb...
Namibia increases Energy Fund levy, keeps March fuel prices unchanged – The Brief is Namibia’s leading Daily Business, Finance and Economic News publication The Ministry of Mines and Energy has increased the National Energy Fund Levy by 50 cents on all petroleum products, bringing it to N$186.77 cents per liter for petrol and N$166.76 cents...
Recently, consumers received positive news with the announcement of an unchanged repo rate alongside an unchanged in fuel prices across Namibia. While these developments may seem distant from the average person’s daily concerns, they hold significant implications, particularly for members of the Government Institutions Pension Fund (GIPF). Let’s delve into what these announcements mean for...
Martin Endjala In a move to justify its decision to maintain the repo rate at 7.75 percent, a level kept since June 2023, the Governor of the Bank of Namibia (BoN), Johannes !Gawaxab said that despite many wanting the central bank to reduce the repo rate, the benefits outweigh the costs. Most monitored central banks...
In a widely anticipated move, the Bank of Namibia (BoN) yesterday announced its decision to maintain the repo rate at 7,75%, maintaining the prime lending rate 11,5%. Central bank governor Johannes !Gawaxab said the decision was taken following a review of domestic, regional and global economic developments, including maintaining the currency peg with South Africa,...
The annual inflation rate averaged 6% during the first ten months of 2023, slightly up from 5.9% during the corresponding period in 2022. The increase in consumer price inflation was primarily shaped by the rise in the food, housing, and miscellaneous goods and services components, the central bank said in the latest Monetary Policy Committee...
The Bank of Namibia (BoN) is expected to keep the repo rate unchanged at 7.75% when it announces its Monetary Policy decision on Wednesday. “We expect the MPC to keep the rate unchanged at 7.75% at the next meeting. Upside risks to this view are higher interest rates in South Africa due to global inflationary...