Reserve Bank keeps repo rate unchanged at 6.5%
Lesetja Kganyago has announced that the repo rate will remain unchanged at 6.5%.
PRETORIA - South African Reserve Bank (Sarb) Governor Lesetja Kganyago has announced that the repo rate will remain unchanged at 6.5% per annum.
He said this was a unanimous decision by the Monetary Policy Committee (MPC).
"At these levels, the committee still assesses that stance of monetary policy to be accommodative."
Kganyago says inflation is still a concern, along with a depreciating rand.
"Since the previous meeting of the MPC, the rand has depreciated by 7.2% against the US dollar, by 6.2% against the euro and by 4.9% on a trade-weighted basis."