Benchmark Interest Rate Rises for the Second Time in 2015

SOUTH AFRICA - Report 19 Nov 2015 by Iraj Abedian

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to increase the country’s benchmark interest rate – the repo rate – from 6.0% to 6.25% at its November 2015 meeting. Four of the six members voted for an increase. Today was the second time the MPC increased the repo rate in 2015, the other time being at July’s meeting, while it opted to keep it unchanged at the other four meetings.

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