Namibia’s central bank cuts rates to record low

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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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