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Economists expect repo rate to remain unchanged

The repo rate has been left unchanged since March last year.

FILE: Reserve Bank Governor Lesetja Kganyago. Picture: GCIS.

CAPE TOWN – The South African Reserve Bank is set to make its announcement on the repo rate later on Thursday.

Its Monetary Policy Committee has been in deliberations since Tuesday.

The repo rate has been left unchanged since March last year.

Most of that experts that Eyewitness News spoke to say they expect the Reserve Bank to keep the repo rate at 7%.

The Monetary Policy Committee will take note of the slowing inflation rate which is now within its target of between 3 and 6%.

Economists say that the central bank will also consider possible future risks to the rand.

These include possible further credit rating downgrades and the current climate of political uncertainty.

But some analysts have indicated that some relief may be on the way in the form of a rate cut in the coming months.

LISTEN: Why Sarb may not cut rates