South African Reserve Bank (SARB) Governor Lesetja Kganyago has announced that the repo rate will remain steady at 8.25 percent, meaning that the prime lending rate stays at 11.75 percent.
Governor @KganyagoLesetja delivered the March Monetary Policy Committee statement. The MPC decided to keep the repurchase rate at its current level of 8.25% per year. The decision was unanimous. For the statement click here: https://t.co/x5H5FCmRIK To watch the press conference… pic.twitter.com/HfOAwqedFS
— SA Reserve Bank (@SAReserveBank) March 27, 2024
Most economists expected domestic consumer inflation to ease below the current 5.6 percent later this year. However, upside risks remain a concern.
Economists say they expect interest rates to begin going down in the second half of the year.
