SARB MPC keeps repo rate unchanged

By Janice Roberts
Editor

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The SA Reserve Bank’s Monetary Policy Committee kept the repo rate unchanged at 7 percent per annum.

At a press conference in Pretoria today, SARB governor Lesetja Kganyago said:

“While the committee remains concerned about the overall inflation trajectory, the assessment of the balance of risks to the inflation outlook and the weak domestic economy has provided some room to delay further tightening of the monetary policy stance for now. Accordingly the MPC has unanimously decided to keep the repurchase rate unchanged at 7,0 per cent per annum.

“The MPC is aware that some of the favourable factors that contributed to this decision could reverse quickly, and remains ready to react appropriately to any significant change in the inflation outlook”.
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