Unchanged repo rate welcomed ahead of festive season
An economist says with an economy that thrives mainly on consumption, South Africans need to take advantage of the unchanged repo rate.
Yesterday, the Reserve Bank's Monetary Policy Committee announced that the repo rate will be kept at 7%. This places the interest rate at 10.5%.
Economist Ralph Mathekga says The SA Reserve Bank's decision to leave the repo rate unchanged is good news - as the festive season approaches.
Meanwhile, East Coasters have been reacting to the rates announcement - with some saying it will take some of the pressure off. Listen below...