Reserve Bank expected to keep rates on hold at first meeting this year

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Reserve Bank Governor Lesetja Kganyago. Picture: Gallo Images/Ziyaad Douglas
Reserve Bank Governor Lesetja Kganyago. Picture: Gallo Images/Ziyaad Douglas

The Reserve Bank's Monetary Policy Committee (MPC) will have its first meeting for 2021 this week and the majority of economists see it keeping rates on hold.

Reserve Bank Governor Lesetja Kganyago is due to make the repo rate announcement on Thursday, 21 January. The repo rate is the rate at which the Reserve Bank lends to commercial banks. It is at record low levels as the MPC slashed it by 300 basis point over the course of 2020 as a response to the blows of the Covid-19 pandemic.

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