Namibia policy interest rate
The Repo rate — the rate at which commercial banks borrow Namibia Dollars from the Bank of Namibia — set by the Bank's Monetary Policy Committee at bi-monthly meetings (six per year). This is Namibia's OWN policy rate, decided in Windhoek, not the South African Reserve Bank's repo rate; but Namibia is a Common Monetary Area member with the Namibia Dollar pegged one-to-one to the South African Rand, and every MPC statement frames the decision as 'safeguarding the peg', which anchors the rate closely to the SARB's.
| Current value | 6.75 percent |
|---|---|
| In force from | 2026-06-17 |
| Official source | Bank of Namibia — Monetary Policy Statement dated 17 June 2026 (ref 9/6/2), MPC meeting of 15 and 16 June 2026: 'REPO RATE INCREASED BY 25 BASIS POINTS TO 6.75 PERCENT'; para 15: 'the MPC decided to raise the Repo rate by 25 basis points to 6.75 percent. This increase effectively brings the Prime lending rate to 10.25 percent' |
| Last verified | 2026-07-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
RAISED 25bps on 17 Jun 2026 — the first BoN hike since 2023, ending a four-meeting hold at 6.50%. Direction check: this is a RISE, not a cut. CMA CONTEXT: the Namibia Dollar is pegged 1:1 to the South African Rand and Namibia is a Common Monetary Area member with South Africa, Lesotho and Eswatini. The Bank of Namibia sets this rate itself under its own mandate and CAN and DOES deviate from the SARB repo rate by a margin (through 2023-2025 BoN ran below SARB), but the peg is the binding constraint: every statement says the stance is chosen 'with a view to continue safeguarding the peg between the Namibia Dollar and the South African Rand' and 'support the stock of international reserves'. The June 2026 statement (para 7) explicitly notes the SARB, ECB and Bank of Japan had all just tightened. Serve this as Namibia's policy rate; do NOT substitute a South African rate (no ZA file exists in this dataset). PRIME: BoN does not set prime, but announces its implied level — 10.25% after this decision. The prime-repo margin has been deliberately narrowed: BoN gave notice on 18 Jun 2025 of a narrowing from 3.75pp, which became 3.625pp from 30 Sep 2025 and 3.50pp from 31 Dec 2025 (annotations in BoN's own Repo History spreadsheet, https://www.bon.com.na/getattachment/Bank/Monetary-Policy/Repo-rate-history/Repo-History.xlsx.aspx). EFFECTIVE DATE TRAP: BoN monetary policy statements do NOT state a separate effective date — the rate applies from the announcement, and the BoN month-end series shows 6.75% for June 2026. The date used here is the announcement date, 17 Jun 2026. RATIONALE: headline inflation forecast revised up to 4.0% in 2026 and 3.6% in 2027 on higher oil prices; reserves N$55.4bn at end-May 2026 (3.5 months import cover); domestic activity weak; PSCE growth 4.8% y/y in April 2026. NEXT MPC: 10 and 11 August 2026. Statement archive: https://www.bon.com.na/Bank/Monetary-Policy/Monetary-Policy-Statements.aspx (PDFs are text-extractable; the site is fetchable without a bot wall).
Earlier values
| From | Value | Source |
|---|---|---|
| 2024-12-04 | 7 | Bank of Namibia — Monetary Policy Statement dated 04 Decembe |
| 2025-02-12 | 6.75 | Bank of Namibia — Monetary Policy Statement dated 12 Februar |
| 2025-10-15 | 6.5 | Bank of Namibia — Monetary Policy Statement dated 15 October |
Get it programmatically
curl https://afriref.dev/v1/na/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://afriref.dev/v1/na/policy-rate/history?from=2020-01-01
# Provenance: curl https://afriref.dev/provenance/na/policy-rateOther Namibia series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates