SARB keeps interest rate at 6.5 percent

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The Reserve Bank has left the repo rate unchanged at 6.5 per cent.

On Wednesday, some economists said there was room for the Reserve Bank to lower the repo rate because inflation is at its lowest rate in eight years.

Statistics South Africa also announced on Wednesday that the headline consumer price index fell to 3.7  per cent in October, down from 4.1 per cent the month before.

In September, the bank’s Monetary Policy Committee kept the repo rate unchanged at 6.5 per cent following a 25 basis points cut.

Watch South African Reserve Bank governor, Lesetja Kganyago’s MPC decision announcement below: