Repo rate remains at 6.75%, in line with expectations
Reserve Bank governor Lesetja Kganyago at the monetary policy committee press conference. Picture: FREDDY MAVUNDA
This will come as a relief to cash-strapped consumers who face further fuel-price increases and slightly higher debt service costs, which have dented confidence. Inflation is expected to moderate this year but the Bank has made it clear it would prefer inflation anchored at the midpoint of the 3% to 6% target range. In February, inflation was below the midpoint of the range at 4.1%.
“A further escalation of trade tensions, rising geopolitical risks, including the possibility of a no-deal Brexit, and renewed tightening of financial conditions could further weaken growth in an environment with limited policy space,” Kganyago said.
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