Windhoek — Local businesses should take advantage of the prevailing low interest rates in the domestic financial market to increase the tempo of growth in the economy. This was the advice given yesterday by the Bank of Namibia Governor, Iipumbu Shiimi, when he announced that the central bank's Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.75 percent.
The repo is the rate at which commercial banks borrow money from the central bank, which in turn determines the interest rates that commercial banks charge their clients.
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