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Tuesday, September 19, 2017
Good News for Consumers: South Africa’s Repo rate reduced to 6.75%

Good News for Consumers: South Africa’s Repo rate reduced to 6.75%

The central bank said it remains concerned about the country’s inflation outlook, saying that inflation expectations remain sticky at the upper end of its 6% benchmark.

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Reserve Bank Governor Lesetja Kganyago
South Africa's Reserve Bank Governor Lesetja Kganyago speaks during a television interview at the World Economic Forum on Africa 2017 meeting in Durban, South Africa, May 4, 2017. REUTERS/Rogan Ward
By News Agency Staff
The Reserve Bank’s Monetary Policy Committee (MPC) on Thursday reduced the repo rate by 25 basis points to 6.75%.
Briefing reporters following the MPC’s meeting, Reserve Bank Governor Lesetja Kganyago said the bank “will not hesitate to revise the move if the need arises”.

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