Reserve Bank keeps repo rate at 7.5%.

By: Pamella Majola

The South African Reserve Bank has announced that its Monetary Policy Committee has decided to leave the Rep Rate unchanged.

This follows decisions by the US Federal Reserve and the Bank of England to also keep rates unchanged.

In South Africa, the prime rate remains at 11% based on a repo rate of 7.5%.

Governer Lesetja Kganyago has been brifing the media on the decision made by the MPC.

Kganyago elaborates:

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