The Reserve Bank on Thursday kept the repo rate unchanged at 5.75% per annum.
The prime lending rate will remain at 9.25%.
South African Reserve Bank governor Gill Marcus made the announcement amid a domestic growth outlook that the Monetary Policy Committee described as weak.
The repo rate – the rate at which the central bank lends money to commercial banks – was hiked by 50 basis points to 5.5% in January 2014.
It was increased by 25 basis points to 5.75% in July. – SAnews.gov.za
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Alan Straton
Chief Cook, Bottle Washer and Broom Mechanic at MyPE
Passionate about Port Elizabeth and definitely NOT packing for Perth.
Alan's ethos is epitomised in the words of Nelson Mandela; "I have fought against white domination and I have fought against black domination. I have cherished the idea of a democratic and free society. If need be, it is an ideal for which I am prepared to die."
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