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Lesetja Kganyago: We've been aggressive in our Covid-19 response

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The Reserve Bank expects the economy to grow by 3.6% in 2021 and 2.4% in 2022.
The Reserve Bank expects the economy to grow by 3.6% in 2021 and 2.4% in 2022.

The Reserve Bank has been "aggressive" in its response to the impact of the Covid-19 pandemic on the SA economy, the effects of its measures have not been immediate and could take nearly 18 months before it filters through, said Governor Lesetja Kganyago.

The Reserve Bank's Monetary Policy Committee this week decided to keep the repo rate on hold at 3.5%. This was in line with economists' expectations. Two members of the committee were in favour of a 25 basis point cut - which affirmed views of some economists that there was scope for further monetary policy easing.

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