Reserve Bank keeps repo rate unchanged at 6.75%

The Reserve Bank has kept the repo rate unchanged at 6.75%, in line with the expectations of most economists and analysts. 

Governor of the SA Reserve bank Lesetja Kganyago announced the benchmark rate call at a media briefing in Pretoria. He said the decision was unanimous. 

The repo rate is the interest rate at which the central bank lends money to other banks. Changes in the repo rate affect the prime lending rate, which is the rate banks use as a starting point to calculate interest rates for their clients. 

With the repo rate unchanged at 6.75%, the prime lending rate will remain steady at 10.25%. 

Kganyago said the SARB now expects GDP growth of 0.7% in 2018, 1.7% in 2019 and 2% in 2020.

The decision was unsurprising. "The general consensus [is] that rates will remain unchanged," said TreasuryONE in a morning note to clients. 

The rand, which was trading at R13.73/$ at 14:45, was changing hands at R13.74/$ after the announcement was made. 

.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
17.68
-0.3%
Rand - Pound
20.21
+0.1%
Rand - Euro
17.62
-0.1%
Rand - Aus dollar
11.47
-0.0%
Rand - Yen
0.12
-0.3%
Gold
1,718.01
-0.5%
Silver
20.77
-1.4%
Palladium
2,305.48
-0.7%
Platinum
923.50
-1.1%
Brent Crude
91.80
+3.2%
Top 40
59,839
0.0%
All Share
66,313
0.0%
Resource 10
64,568
0.0%
Industrial 25
80,073
0.0%
Financial 15
14,053
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders