https://newsletter.en.creamermedia.com

Reserve Bank again keeps repo rate unchanged at 6.75%

SARB governor Lesetja Kganyago

SARB governor Lesetja Kganyago

Photo by Bloomberg

SARB governor Lesetja Kganyago

Photo by Bloomberg

23rd May 2019

By: News24Wire

  

Font size: - +

The South African Reserve Bank's (SARB's) monetary policy committee has again decided to keep the repo rate unchanged at 6.75%, a decision widely expected by analysts. 

The central bank's governor Lesetja Kganyago made the announcement at a media briefing in Pretoria on Thursday afternoon. 

The repo rate is the benchmark interest rate at which the Reserve Bank lends money to other banks. Changes in the repo rate affect the prime lending rate, which is the lowest rate at which banks start lending to clients.  With the repo rate unchanged, the prime lending rate will remain unaltered at 10.25%.

The bank last hiked the repo rate in November 2018 from 6.5% to 6.75%. The MPC kept rates on hold at its two last meetings in January and late March.

Kganyago said SA GDP growth was expected to expand by 1% in 2019. High debt levels and the possibility of load shedding would likely continue to negatively impact on inflows of foreign direct investment, he added.  

Edited by News24Wire

Comments

Projects

Image of solar panel
Mmadinare Solar Complex, Botswana
Updated 2 hours 29 minutes ago By: Sheila Barradas

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.092 0.185s - 171pq - 2rq
Subscribe Now