Governor Lesetja Kganyago made the announcement in Pretoria following a meeting of the monetary policy committee. Kganyago says the repo rate will remain at 8.25%.
Kganyago notes that at the current repurchase repo rate level, the policy is restrictive, consistent with the inflation outlook, and the need to address rising inflation expectations. He argues that there are still risks that inflation can increase again although headline inflation at a global level continues to be moderate. Food price inflation remains high.
The repo rate is left unchanged at a 14-year high of 8.25% by the Reserve Bank’s Monetary Policy Committee. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.