Repo Rate Stays Unchanged In November 2020

The SA Reserve Bank’s Monetary Policy Committee (MPC) has announced that the Repo Rate will remain unchanged at the very low rate of 3.5% at their meeting held this month.

Most experts expected the Repo Rate to remain unchanged at the already incredibly low rate of 3.5% this month. So, no one is really surprised or disappointed.

Adjusting the rate is often linked with inflation and those figures are pretty consistent and manageable for the moment. Of course, the Covid-19 Pandemic’s effect on the economy was one factor considered as was the confusion and ongoing laugh riot that is the USA democratic process (though it now seems that there is some clarity there) and its effect on the Rand/Dollar exchange rate. In the end though, things have remained pretty consistent recently.

3.5%

With lockdown levels remaining low and most businesses functioning as well as can be expected the MPC decided to keep the rate as is and hold off on any further change.