Repo Rate Remains Unchanged

Written by on 25 March, 2021

By: Lindelani Mbatha

Reserve Bank Governor Lesetja Kganyago says the Monetary Policy Committee has decided to keep the repo rate unchanged at 3.5%.

Kganyago has been virtually addressing media on the MPC decision.

The governor says unless the risks outlined earlier materialise, inflation is expected to be well contained in 2021, before rising to around the midpoint of the inflation target range in 2022 and 2023.

He says GDP is expected to grow by 2.4% in 2022 and by 2.5% in 2023, unchanged since the January meeting.

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The bank has ensured adequate liquidity in domestic markets and will continue to closely monitor funding markets for stress. In addition, regulatory relief provided to banks continues to support lending to households and firms.

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