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WATCH: Will the Reserve Bank drop the repo rate on Thursday?

The bank has reduced the rate by 300 basis points so far this year, in an effort to promote growth amid an economy suffering under the effects of the COVID-19 lockdown.

South African Reserve Bank (Sarb) Governor Lesetja Kganyago. Picture: @SAReserveBank/Twitter

JOHANNESBURG – The Reserve Bank is set to announce shortly whether it will drop the repo rate once again or keep it at 3.5%.

The bank has reduced the rate by 300 basis points so far this year, in an effort to promote growth amid an economy suffering under the effects of the COVID-19 lockdown.

A Reuters poll of 25 economists showed mixed sentiment on whether there will be another cut.

WATCH: Reserve Bank Governor Lesetja Kganyago

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