Repo Rate To Remain Unchanged At 6.5%

Lesetja Kganyago
South African Reserve Bank governor Lesetja Kganyago. Picture: AFP.

South African Reserve Bank (Sarb) governor Lesetja Kganyago has announced that the repo rate will remain unchanged at 6.5%.

The repo rate is the rate at which the central bank lends money to commercial banks.

At its previous meeting in September, the Monetary Policy Committee also decided to keep the rate unchanged, citing factors that could influence inflation.

On Wednesday, Stats SA announced that the headline consumer price index fell to 3.7% in October, from 4.1% the month before, representing its lowest level since February 2011.

More details to follow.

EWN

Thanks for reading and for your interest in South Africa. Content is produced in collaboration between iAfrica’s editorial team and partners — including nongovernmental organizations, private sector stakeholders, agencies and institutions. If you are interested in sharing stories to shine a spotlight on a particular issue, please email i-news@africa.com. We look forward to hearing from you.