Repo rate decision made with consumers in mind: analyst
An economist says the Reserve Bank's decision to keep interest rates on hold, was taken with struggling consumers in mind.
Graeme Kerner says the Monetary Policy Committee chose not to burden people with additional financial pressure - by raising them.
The Reserve Bank left the repo rate untouched at 6,75 percent - noting that the local economy remains under heavy pressure from both dynamic and international events.
ALSO READ: Interest rates unchanged at 6,75%
The first quarter of 2019 was a disappointing one. Kerner says it's too early to say whether South Africa remains safe from a technical recession.
"It doesn't look great. Quite a few investment and asset management houses - are calling it a technical recession. It wouldn't surprise me. We get Q1 and Q2 triggering a technical recession. Hopefully in the third quarter, we can start accelerating again," Kerner said.
NOW READ: Repo rate raised by 25 points to 6,75%
