Repo rate left unchanged

Repo rate left unchanged

The repo rate has been kept unchanged at 3.5 percent. 

Reserve Bank Governor Lesetja Kganyago repo

Reserve Bank governor Lesetja Kganyago says the decision was unanimous.

This is the sixth consecutive time that the bank’s Monetary Policy Committee has opted to keep the rate on hold.

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"These repurchase rate levels reflect a highly accommodative policy stance through the end of 2022, keeping financial conditions supportive of credit demand as the economy recovers from the pandemic and associated lockdowns,” Kganyago said on Thursday.

"The bank has ensured adequate liquidity in domestic markets and will continue to closely monitor funding markets for stress." 

The bank says it expects a 25 basis point increase from the fourth quarter this year.

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