By: Dolly Menas
The recent 25-basis point repo rate cut by the Bank of Namibia (BoN) could bring much-needed relief to the property sector, especially in residential property financing.
The BoN’s Monetary Policy Committee (MPC) unanimously decided last week to reduce the repo rate to 7.25%, following a similar cut in August.
Simonis Storm Securities economist, Almandro Jansen, highlighted that while both corporate and household mortgage lending face ongoing structural challenges, further rate cuts are expected.
These cuts could provide additional support to the struggling construction sector.
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