https://www.engineeringnews.co.za

SARB keeps repo rate at 6.75%

SARB keeps repo rate at 6.75%

Photo by Bloomberg

28th March 2019

By: News24Wire

  

Font size: - +

The South African Reserve Bank's monetary policy committee has kept the repo rate unchanged at 6.75% in a unanimous decision

The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria on Thursday afternoon. 

The repo rate is the benchmark interest rate at which the Reserve Bank lends money to other banks. Changes in the repo rate affect the prime lending rate, which is the lowest rate at which banks start lending to clients.

With the repo rate unchanged, the prime lending rate will remain at 10.25%.

Kganyago said the domestic growth outlook remained sluggish. He said the bank now believes the local economy grew by 0.7% in 2018, down from the 0.8% announced by Stats SA in early March. 

The announcement was in line with the expectations of economists. 

Earlier in the week analysts from NKC Economics said the central bank would likely keep rates unchanged on the back of a favourable outlook for inflation in 2018 and a moderate economic recovery expected for the year.

Edited by News24Wire

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 1.011s - 122pq - 2rq
Subscribe Now