South Africans can loosen their belt a tiny bit this month as the SARB has decided finally to cut the interest rate.
South Africa n Reserve Bank Governor Lesetja Kganyago . South Africa ns can loosen their belt a tiny bit this month as the SARB has decided to finally cut the interest rate. Picture: Oupa Mokoena/ Independent Newspapers’s Monetary Policy Committee has decided to finally cut the interest rate. The repo rate was cut by 25 basis points and will fall from 8.25% to 8%.
The Reserve Bank Governor, Lesetja Kganyago said in discussing the stance, MPC members considered an unchanged stance, a 25bps, and a 50bps cut. On inflation, Kganyago said that South Africa’s headline eased to 4.4% in August, a 3-year low, and close to the middle of our target range. On SA’s economic growth, the Governor said that output was marginally below their expectations for the first half of the year.
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