WATCH: SA Reserve Bank keeps interest rates unchanged | IOL Business Report

JOHANNESBURG - South African Reserve Bank Governor Lesetja Kganyago announced today the bank's latest decision on interest rates following the three-day meeting of the monetary policy committee which he chairs.

Kganyago announced that Sarb would be keeping interest rates unchanged at a media briefing held today. Kganyago also said during his briefing that food price inflation continues to surprise to the downside on a monthly basis, and is expected to peak at about 6.1% in the third quarter of 2020. The MPC decided to keep the repurchase rate unchanged at 6.5% per annum - @KganyagoLesetja pic.twitter.com/w8dilTXNk1 The forecast for core inflation is lower at 4.2% in 2019 , at 4.5% in 2020 and remains steady at 4.6% in 2021. pic.twitter.com/8qAndgS689 The forecast for core inflation is lower at 4.2% in 2019 , at 4.5% in 2020 and remains steady at 4.6% in 2021. pic.twitter.com/8qAndgS689 The forecast of GDP growth for 2019 is revised lower at 0.5% .

Earlier this year in July, the Reserve Bank cut interest rates for South Africa down to to 6.5% per annum and chose to keep it unchanged in September.

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Reserve Bank likely to keep interest rates steady for consumers' benefit | IOL Business ReportLow inflation is set to benefit consumers this festive season as the South African Reserve Bank looks set to leave interest rates unchanged at its final meeting for the year. busrep
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