Critical time for home owners as repo rate hikes

Martin Endjala The Bank of Namibia (BoN) today announced an increase of the repo rate to seven percent by 25 basis points. The repo rate increased from 6.7 percent. BoN Governor Johannes !Gawaxab stated that the decision to increase the repo rate is mainly to continue anchoring inflation expectations and safeguarding the peg arrangement, as well as the comprehensive review of global, regional and domestic economic developments. The Governor also said that the notion by a number of members of public that the Central Bank increasesthe repo rate willy-nilly is “very” wrong, as the Monetary Policy Committee (MPC) makes decisions…