Repo-Rate Remains Resolute

Written by on 20 May, 2021

By: Bright Ntuli

The Monetary Policy Committee of the South African Reserve Bank (SARB) has decided to keep the repo rate unchanged at 3.5%.

Governor, Lesetja Kganyago,  says the decision was unanimous, given a balanced economic outlook and inflation forecast.

According to Kganyago the economy is expected to grow by 4.2-percent in 2021, up from 3.8%.

He has however warned that despite the more optimistic outlook, households remain under pressure, and getting back to pre-pandemic levels will take time.

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