Inflation Rate Reverts Back into the SARB’s Target Range, and Interest Rates Remain Unchanged

SOUTH AFRICA - Report 25 May 2017 by Iraj Abedian

The South African Reserve Bank’s Monetary Policy Committee remains dovish as it announced today that it decided to keep the benchmark interest rate at 7%, resulting in the prime interest rate also remaining at 10.5%. This decision by the Bank was mostly expected, especially following the latest inflation metrics released by Statistics South Africa indicating that the general price level in the country had come down significantly.

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