Repo Rate Remains Unchanged
Despite some economists predictions the Repo Rate remains unchanged at 6.5%. This despite the fact that inflation has been slightly lower than anticipated.
The announcement was made on Thursday 21st November by the SARB Governor.
Though some were disappointed and had expected a small drop to help fuel end of year spending etc. others pointed out that the projected inflation figures were basically correct. The MPC did not feel there was room for a drop in the rate and would like to see a little stability across the economy.
For now, the Repo Rate (and thus all your other interest rates on your credit accounts) remains the same.