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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