repo rate

The South African Reserve Bank (SARB) has cut the repo rate by 25 basis points. “The Monetary Policy Committee (MPC) has decided to cut the repo rate by 25 basis points, taking it to 3.50% per annum, with effect from 24 July 2020. Three members preferred a cut of 25 basis points and two preferred to keep rates on hold,” Governor of the South African Reserve Bank, Lesetja Kganyago, said on Thursday. He said the implied path of policy rates over the forecast period, generated by the … [Read more...] about Reserve Bank cuts repo rate

The Monetary Policy Committee (MPC) of the South African Reserve Bank decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25% per annum. The May 2020 meeting of the MPC was been moved earlier and took place today. … [Read more...] about Monetary Policy Committee cut the repo rate by 100 basis points

Central bank cuts repo rate by 100 basis points In line with market expectation, the Reserve Bank has cut the repo rate by 100 basis points to 5.25% per annum, Governor Lesetja Kganyago announced on Thursday. “The MPC decided to cut the repo rate by 100 basis points. This takes the repo rate to 5.25% per annum, with effect from 20 March 2020. The decision was unanimous,” said the Governor following the two-day meeting of the Monetary Policy Committee (MPC). The decision comes as the globe … [Read more...] about Repo Rate Down

Reserve Bank Governor Lesetja Kganyago has announced that the repo rate will remain unchanged for the time being, despite some economists banking on a rate cut. “The MPC [Monetary Policy Committee] decided to keep the repurchase rate unchanged at 6.5% per annum. Three members preferred to keep interest rates on hold and two members preferred a cut of 25 basis points,” he told a media briefing in Pretoria, following the MPC's meeting. He said monetary policy actions will continue to focus … [Read more...] about Repo rate remains unchanged

South African Reserve Bank (SARB) Governor Lesetja Kganyago has announced that the Monetary Policy Committee (MPC) has maintained the repurchase (repo) rate at 6.75%. Addressing reporters on Thursday, Kganyago said the MPC had reached the decision after assessing overall risks to the inflation outlook to be more or less evenly balanced. “The MPC decided to keep the repurchase rate unchanged at 6.75% per year. Three members preferred to keep rates on hold and two members preferred a cut … [Read more...] about Repo rate unchanged

The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has maintained the repurchase rate (repo) at 6.75%, Governor Lesetja Kganyago announced on Thursday. Addressing reporters, Kganyago said the MPC had reached the decision after assessing overall risks to the inflation outlook to be more or less evenly balanced. “Key upside risks are rising administered prices, including electricity and water tariffs, rising domestic food prices in the outer years and higher … [Read more...] about Repo rate unchanged

Consumers will breathe a sigh of relief after the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5%. Despite a stagnant economy, coupled with several external and internal factors, SARB Governor Lesetja Kganyago said, the seven member MPC had decided against increasing the repo rate. Four members voted against an increase while the other three wanted a 25 basis points growth. “The committee remains concerned about the … [Read more...] about Repo rate unchanged

The Monetary Policy Committee (MPC) has unanimously decided to keep the repurchase rate unchanged at 6.5% per annum. Making the announcement on Thursday, Reserve Bank Governor Lesetja Kganyago said the MPC still sees the stance of monetary policy to be accommodative and appropriate, given the current state of the economy. “However, the MPC has noted the deteriorating inflation outlook, driven mainly by supply-side factors. The approach of the MPC continues to be one of looking through … [Read more...] about Repo rate unchanged at 6.5%

Consumers are encouraged to exercise restraint on excessive spending despite the SARB’s decision to keep interest rates unchanged. CEO of FNB Consumer, Dr Christoph Nieuwoudt says the unchanged interest rates do not give consumers a license to spend excessively. He says, instead, people should use this opportunity to improve the management of financial instruments such as credit and savings. “The economic pendulum has shifted significantly since the previous rate cut and consumers’ … [Read more...] about Consumers cautioned against excessive spending as repo rate remains unchanged

The repo rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday. “Given the heightened uncertainties in the economy, the Monetary Policy Committee (MPC) felt it would be appropriate to maintain the current monetary policy stance at this stage, and reassess the data and the balance of risks at the next meeting,” said the Governor. Three of the six members of the MPC preferred a 25 basis point reduction. In August, the Consumer Price Index … [Read more...] about Repo rate remains unchanged