Reserve Bank again keeps repo rate unchanged at 6.75% | Fin24
The SA Reserve Bank'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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH: SA Reserve Bank keeps interest rates unchanged | IOL Business ReportReserve Bank Governor Lesetja Kganyago is announcing the bank's latest decision on interest rates hikes.
Read more »
Reserve Bank keeps interest rate unchanged, as widely expectedAs expected, the Reserve Bank’s monetary policy committee (MPC) kept interest rates unchanged at 6.75% on Thursday.
Read more »
Reserve Bank keeps repo rate unchanged at 6.75%The Reserve Bank governor says there are numerous pressures on inflation, but it will still decline slowly for the next three years, as it has since 2017.
Read more »
As expected, Reserve Bank keeps interest rates unchangedInflation is expected to moderate this year and the Bank has made it clear it would prefer inflation anchored at the mid-point of its 3%-6% inflation target range
Read more »
Rand pushes past R14.50/$ as Reserve Bank signals future cutThe Reserve Bank said it now expects to cut interest rates 25 basis points by the end of the first quarter of 2020
Read more »
ECONOMIC WEEK AHEAD: No changes expected from Reserve Bank and S&PDespite weak economic growth and low inflation, an interest rate cut and a rating downgrade are not likely, writes Sunita Menon
Read more »
ECONOMIC WEEK AHEAD: No changes expected from Reserve Bank and S&PDespite weak economic growth and low inflation, an interest rate cut and a rating downgrade are not likely, writes Sunita Menon
Read more »
SA Reserve Bank expected to keep repo rate unchanged following MPC meetingGovernor of the SA Reserve Bank Lesetja Kganyago will announce the benchmark rate call at a media briefing in Pretoria on Thursday afternoon, following a three day meeting of the bank's Monetary Policy Committee.
Read more »
BUSINESS MAVERICK: The rand is going digital – and the Reserve Bank is open for suggestionsCentral bankers have always been protective of the currencies they keep. Stability is a top priority, which has made them rather cautious about solutions that threaten that position. Yet, lately, they’ve thrown that caution to the wind as more regulators actively start experimenting with the idea of cryptocurrencies and the underlying blockchain technology. Even the SA Reserve Bank is warming up to the idea of digital currency. And it has asked the industry to help it come up with the best ideas.
Read more »
Deutsche Bank employees say bank bosses ignored flagging of Trump, Kushner transactionsConcerns were raised over alleged illicit activity that involved entities controlled by the US president and his son-in-law
Read more »
Little to no bank fees with these new accounts from banks | IOL Business ReportAfrican Bank launched its transactional banking offering, MyWORLD, as it takes on fierce competition from South Africa's established lenders.
Read more »