SARB leaves repo rate unchanged at 3.50%

19th November 2020 By: Reuters

 SARB leaves repo rate unchanged at 3.50%

Reserve Bank Governor Lesetja Kganyago
Photo by: Bloomberg

South Africa's central bank left its main lending rate unchanged at 3.50% on Thursday, Governor Lesetja Kganyago said.

A Reuters poll saw the Reserve Bank (SARB) leaving rates unchanged, with 17 of 22 economists expecting the bank to hold rates steady after cutting them by a cumulative 300 basis points earlier this year as the coronavirus pandemic swept the world.