Reserve Bank again keeps repo rate unchanged at 6.75%

The SA Reserve Bank's monetary policy committee has again decided to keep the repo rate unchanged at 6.75%, a decision widely expected by analysts. 

The central bank's governor Lesetja Kganyago made the announcement at a media briefing in Pretoria on Thursday afternoon. 

The repo rate is the benchmark interest rate at which the Reserve Bank lends money to other banks. Changes in the repo rate affect the prime lending rate, which is the lowest rate at which banks start lending to clients.  With the repo rate unchanged, the prime lending rate will remain unaltered at 10.25%.

The bank last hiked the repo rate in November 2018 from 6.5% to 6.75%. The MPC kept rates on hold at its two last meetings in January and late March.

Kganyago said SA GDP growth was expected to expand by 1% in 2019. High debt levels and the possibility of load shedding would likely continue to negatively impact on inflows of foreign direct investment, he added. 


ZAR/USD
16.84
(+0.46)
ZAR/GBP
21.61
(+0.77)
ZAR/EUR
19.72
(+0.78)
ZAR/AUD
11.99
(+0.81)
ZAR/JPY
0.16
(+0.46)
Gold
1883.30
(-0.66)
Silver
23.67
(-2.26)
Platinum
868.00
(-1.58)
Brent Crude
41.31
(-3.06)
Palladium
2303.32
(+0.46)
All Share
54158.51
(-0.64)
Top 40
49985.31
(-0.67)
Financial 15
9920.55
(-0.83)
Industrial 25
73039.04
(-0.44)
Resource 10
53651.12
(-0.74)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1393 votes
It depends on how the funds are used.
73% - 9015 votes
No. We should have gotten the loan elsewhere.
16% - 1990 votes
Vote