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Reserve Bank keeps repo rate unchanged

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The Reserve Bank’s Monetary Policy Committee has decided to keep the repo rate unchanged at 6.5%.

Reserve Bank Governor Lesetja Kganyago announced the decision in Pretoria on Thursday.

Economists believe interest rates will remain steady for the next 12 months.

This would be great news for consumers who have the odds stacked up against them with the increasing cost of living.

The decision comes on the back of the increasing fuel prices, the higher taxes and weak rand.

 

 

Click video below:

 

Read the MPC statement below:

 

 

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