Thursday, 21 July 2016 21:13

Repo rate unchanged in July

The Reserve Bank on Thursday kept the repo rate unchanged at 7% - in line with market expectations.

Wednesday, 08 June 2016 19:26

GDP contracts in first quarter of 2016

South Africa’s Gross Domestic Product (GDP) contracted by 1.2% in the first quarter of 2016, Statistics South Africa (Stats SA) announced on Wednesday.

Thursday, 19 May 2016 17:26

Repo rate remains unchanged at 7%

The Reserve Bank on Thursday kept South Africa’s repo rate unchanged at 7 percent per annum.

“Tolerating additional inflation in the short run could require larger interest rate adjustments later, with proportionally greater costs for the economy.

Thursday, 17 March 2016 17:57

Reserve Bank raises repo rate to 7%

The Reserve Bank on Thursday increased South Africa’s repo rate by 25 basis points to 7% per annum.

Ooba says the decision today by the South African Reserve Bank to increase interest rates by 0.5% from 6.25% to 6.75% will negatively impact the residential housing markets as many consumers are already facing increasing financial strain through dealing with elevated levels of debt and the rising cost of living expenses.

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) raised the key monetary policy interest rate – the repurchase, or repo rate – by a further 25 basis points from 6% to 6,25% per annum. Due to this hike in the repo rate, Absa announced that its prime lending and variable mortgage interest rates will rise from 9,5% to 9,75% per annum, effective from 20 November 2015.

Wednesday, 23 September 2015 16:27

Reserve Bank keeps Repo rate to remain unchanged

The repo rate will remain unchanged at 6% per annum, Reserve Bank Governor Lesetja Kganyago said on Wednesday.

With a 25 bases points increase in interest rates, consumers can expect tough times ahead with overall retail sales growth to range between 2% to 2.75% for the remainder of 2015.

The repo rate is to remain unchanged at 5.75% per annum, the Reserve Bank said.

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