The Monetary Policy Committee of the Bank of Namibia (BoN) has decided to drop the interest rate by 100 basis points to 5,25%. This decision was informed by weakened economic activities although the fear still remains that the impact might escalate as long as the COVID-19 outbreak continues to reign. Bank of Namibia Governor Ipumbu Shiimi is now urging the commercial banks to effect the change with immediate effect so that this remedy can render immediate relief to the masses. The repo rate is the rate at which the central bank lends money to commercial banks. South Africa also cut its interest rate by one percentage point this week. The Namibian Dollar is paired one on one with the South African Rand.