Repo Rate Remains Unchanged

Written by on 21 January, 2021

The South African Reserve Bank has announced that the repo rate will remain unchanged.

The bank’s Monetary Policy Committee has made the decision to keep the repo rate at 3.5-percent.

The decision to hold rates is in line with the bank’s continued monetary policy steps to mitigate the economic fallout of the Covid-19 pandemic.

South African Reserve Bank Govenor, Lesetja Kganyago, says he expects growth in the first quarter of 2021 to remain muted, following significant decreases in GDP in 2020.

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