Economy to remain weak

The Bank of Namibia this week in its latest Monetary Policy Statement said domestic economic activity continued to slow down in the first six month of 2019.

The slowdown is reflected in the mining-, construction-, electricity-, wholesale- and retail sectors.
Other sectors which did show an upswing are the manufacturing-, transport and communication sectors.
The general consensus is the domestic economy would remain weak for the remainder of 2019.

Repo rate cut

The Bank of Namibia announced on Wednesday a reduction in its reporate by 25 basis points to 6,5 %

Expectations are Namibia’s commercial banks would follow suit and cut primary lending rates by the same proportion.

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