The Monetary Policy Committee of the South African Reserve Bank is expected to grow from six to seven members, as Governor Lesetja Kganyago expresses the need for an additional member to prevent deadlock in interest rate decisions.
The six-person Monetary Policy Committee tasked with setting the country’s repo rate is expected to grow to seven, after Governor of the South African Reserve Bank , Lesetja Kganyago, signalled his desire for an additional member.that the MPC “prefers an odd number ,” to prevent the possibility of a deadlock when committee members vote on interest rates.
According to the Reserve Bank, a standard MPC meeting starts with presentations from numerous senior officials from the SARB about the latest developments in both the global and domestic economies, as well as in the financial markets, sharing projections for the economic future.
South African Reserve Bank Monetary Policy Committee Repo Rate Interest Rates Governor Lesetja Kganyago
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