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Repo rate to remain unchanged at 6.5%

The repo rate is the rate at which the central bank lends money to commercial banks.

South African Reserve Bank Governor Lesetja Kganyago. Picture: AFP

JOHANNESBURG - South African Reserve Bank (Sarb) Governor Lesetja Kganyago has announced that the repo rate will remain unchanged at 6.5%.

The repo rate is the rate at which the central bank lends money to commercial banks.

The decision follows this week's Monetary Policy Committee meeting.

In July the bank also announced that it would keep the repo rate unchanged at 6.5%.

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