The Reserve Bank has kept the repo rate unchanged at 5% per annum, it said on Thursday. Briefing reporters following the Monetary Policy Committee (MPC) meeting, Reserve Bank Governor Gill Marcus said that although the sustained breach of the bank's inflation target range was not central to forecast, upside risks to the inflation outlook required careful monitoring. "Should the risks to the medium-term inflation outlook deteriorate significantly, the MPC will not hesitate to take … [Read more...] about Reserve Bank keeps repo rate unchanged
repo rate
No change in repo rate
Reserve Bank Governor, Gill Marcus, has announced that the repo rate is to remain unchanged at 5 percent per annum. The Reserve Bank’s Monetary Policy Committee held its bi-monthly meeting this week. "The MPC has decided to keep the repo rate unchanged at 5 percent per annum," said Marcus at the end of the meeting on Thursday. The repo rate has remained at 5 percent for the last 12 months. - SAnews.gov.za Editor: I challenge anyone to increase the Repo Rate on Mandela Day - could … [Read more...] about No change in repo rate
Repo rate unchanged at 5%
The Reserve Bank's Monetary Policy Committee (MPC) has kept the repo rate unchanged at 5%, Reserve Bank Governor Gill Marcus said on Wednesday. "The MPC has decided to keep the repurchase rate unchanged at 5% per annum," Marcus said at the end of the three-day MPC meeting to discuss rates. The governor said the committee continued to assess the monetary policy stance to be appropriately accommodative, given the persistence of the negative output gap. On inflation, the bank's forecast … [Read more...] about Repo rate unchanged at 5%
Repo rate unchanged at 5%
The Reserve Bank's Monetary Policy Committee (MPC) has kept the repo rate unchanged at 5% in line with market expectations. "The monetary policy stance remains accommodative and appropriate, with the real policy rate remaining slightly negative. Further accommodation at this stage is constrained by the upside risks to the inflation outlook. "The MPC has therefore decided to keep the repurchase rate unchanged at 5%," Governor Gill Marcus said on Thursday. There had been no discussion of … [Read more...] about Repo rate unchanged at 5%
Repo rate unchanged at 5%
The repo rate is to remain unchanged at 5%, Reserve Bank Governor Gill Marcus said on Thursday following the Monetary Policy Committee's last meeting of the year. "The MPC is of the view that the current accommodative stance remains appropriate and has therefore decided to keep the repurchase rate unchanged at 5% per annum. "As always, the MPC will monitor developments closely and will not hesitate to act in a manner consistent with its mandate," said the governor, adding that the decision … [Read more...] about Repo rate unchanged at 5%
Repo rate to remain unchanged at 5%
The Monetary Policy Committee has kept the repo rate unchanged at 5% in line with market expectation, Reserve Bank Governor Gill Marcus said on Thursday. "Although global and domestic growth conditions remain challenging, the MPC is of the view that a further reduction in the repurchase rate is not appropriate at this stage. The MPC has therefore decided to keep the repurchase rate unchanged at 5% per cent per annum," said Marcus. Since the previous meeting of the MPC in July - at which … [Read more...] about Repo rate to remain unchanged at 5%
Repo Rate Remains Unchanged
The Monetary Policy Committee (MPC) has decided to maintain the current monetary policy stance and keep the repurchase rate unchanged at 5.5%, announced Gill Marcus Reserve Bank Governor, on Thursday. The repo rate stands at a more than 30-year low of 5.5%, with the prime interest rate at 9%. Marcus was addressing media at the end of the normal three-day MPC meeting. Earlier, Nedbank said the MPC would face the challenge of “striking the right balance between supporting a fragile … [Read more...] about Repo Rate Remains Unchanged
Repo Rate Unchanged at 5.5%
Much to the expectation of analysts, the Reserve Bank has decided to keep the repo rate unchanged at 5.5% at the first meeting of the Monetary Policy Committee this year. "The Monetary Policy Committee has decided to keep the repurchase rate unchanged at 5.5% per annum," Reserve Bank Governor Gill Marcus said on Thursday, at the end of the meeting. The central bank said the main downside risk continued to come from global economic developments. Before the announcement analyst David … [Read more...] about Repo Rate Unchanged at 5.5%
Repo rate unchanged at 5.5%
The repo rate will remain unchanged at 5.5%, the Reserve Bank said on Thursday. "The MPC has decided to keep the repurchase rate unchanged at 5.5% per annum," Governor Gill Marcus said. The decision had been unanimous. Speaking at the last Monetary Policy Committee (MPC) meeting for the year, Governor Gill Marcus said South Africa's economic recovery remains hesitant with a deterioration of the inflation outlook. Inflation is set to breach the 6% target range in 2012. Standard Bank in … [Read more...] about Repo rate unchanged at 5.5%
Unchanged Repo Rate Supported by BUSA
Business Unity South Africa (BUSA) has expressed its support to keep the repo rate unchanged at 5.5 percent. "BUSA agrees with the decision by the Reserve Bank today (Thursday) to leave interest rates unchanged for the time being. This is a realistic reading of external and internal economic factors. The domestic economic recovery is still modest and the global economic outlook remains uncertain," BUSA said. This as the Reserve Bank's Monetary Policy Committee (MPC) on Thursday left rates … [Read more...] about Unchanged Repo Rate Supported by BUSA
5.5% Repo Rates Likely to Stay
The Reserve Bank's Monetary Policy Committee (MPC) began its two-day meeting with economists on Tuesday 10 May predicting that the repo rate will remain unchanged at 5.5 percent. "Nedbank expects the MPC to keep rates unchanged at 5.5 percent which will keep prime rate at 9 percent," said Nedbank economists. Standard Bank senior economist Dr Johan Botha said oil prices had fallen in the last couple of days with reports that it will rise again. "The volatility is a concern making policy … [Read more...] about 5.5% Repo Rates Likely to Stay
Rates Unchanged at 5.5%
The Reserve Bank's Monetary Policy Committee (MPC) has kept rates unchanged at 5.5 percent per annum in line with market expectation. Reserve Bank Governor Gill Marcus on Thursday said since the previous meeting of the MPC in January, risks to the outlook for domestic inflation have increased on the upside, due mainly to cost push pressures. The prognosis for domestic growth has improved with the recovery expected to be sustained. The Bank said household consumption expenditure has been … [Read more...] about Rates Unchanged at 5.5%
Business Welcomes Interest Rate Decision
Business has welcomed the Reserve Bank's decision to keep the repo rate at 5.5 percent. The central bank on Thursday, following its first meeting of the year, decided to keep rates as is. "BUSA [Business Unity SA] shares the overall economic assessment offered by the Bank today and on a balance of risks, BUSA supports the decision to leave interest rates unchanged as being an acceptable one in the circumstances." BUSA also agreed with the Reserve Bank that the current economic recovery … [Read more...] about Business Welcomes Interest Rate Decision
Repo Rate Unchanged at 5.5 percent
South Africans hoping for another rate cut will be disappointed to learn that the central bank has kept rates unchanged at 5.5 percent. "The MPC has therefore decided to keep the repurchase rate unchanged at 5, 5 percent per annum. At this stage there are no signs of incipient excess demand in the economy, and unless there are significant unexpected changes in the global or domestic outlook the monetary policy stance is expected to remain relatively stable for some time," Reserve Bank … [Read more...] about Repo Rate Unchanged at 5.5 percent
CPI Marginally Down in December
The Consumer Price Inflation in December fell marginally to 3.5 percent, Statistics South Africa (Stats SA) said on Wednesday. December 2010 CPI was 0.1 percent lower than November's 3.6 percent. In December, prices rose by 0.2 percent, mainly due to higher fuel prices and rent costs. Although December's figure came close to market expectation, Nedbank economist Carmen Altenkirch said the favourable figure is not likely to sway the Reserve Bank in favour of cutting interest rates when it … [Read more...] about CPI Marginally Down in December
