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The repo rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
SARB leaves Repo Rate unchanged after only 1 x 25 basis point cut in the current cutting cycle. Weak consumer confidence likely to remain, and shift to a more cautious consumer expected to continue says John Loos, Household and Property Sector Strategist.
Home buyers and those with mortgages will be encouraged by today’s announcement by the Monetary Policy Committee of a 25 basis point reduction in the repo rate, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
The Reserve Bank’s Monetary Policy Committee (MPC) on Thursday reduced the repo rate by 25 basis points to 6.75%.
The Reserve Bank has decided to keep the repo rate unchanged at 7% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
Moody’s rating agency is expected to announce whether it will downgrade South Africa’s economy.
Holding the repo rate steady at today’s Monetary Policy Committee meeting today (24 November 2016) was the right decision and one which is expected to help boost consumer confidence at a time of the year when many are planning and making career and lifestyle decisions for the year ahead, says Dr Andrew Golding, CE of the Pam Golding Property group.
The Reserve Bank on Thursday kept the repo rate unchanged at 7% - in line with market expectations.
“Tolerating additional inflation in the short run could require larger interest rate adjustments later, with proportionally greater costs for the economy.
The Reserve bank (SARB) Monetary Policy Committee (MPC) decided today to hike its policy Repo Rate by a further 50 basis points to 6.75%, a move that will see Commercial Banks raise their Prime rates to 10.25%.