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Repo rate likely to remain unchanged, says economist

In November, the repo rate was increased by 25 basis points to 6.75%. In March, the bank's monetary policy committee left it unchanged.

FILE: SA Reserve Bank Governor Lesetja Kganyago. Picture: Cindy Archillies/EWN

JOHANNESBURG - As the South African Reserve Bank (Sarb) prepares to announce its decision on the repo rate, an economist predicts that it will once again remain unchanged.

In November, the repo rate was increased by 25 basis points to 6.75%. In March, the bank's monetary policy committee left it unchanged.

It has, however, warned there may be pressure on the country's economy, due to the increase in electricity tariffs and fuel prices.

Economist Mike Schussler said: “Typically when it’s measured by July, they know inflation is still going up. They know the timing would be wrong to decrease interest rates.”

Sarb governor Lesetja Kganyakgo is expected to make the announcement at 3pm on Thursday afternoon.