Repo Rate Unchanged on Improved Inflation Prospects

SOUTH AFRICA - Report 30 Jan 2015 by Iraj Abedian
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) left the repo rate unchanged at 5.75%. In acknowledging the continued weakness of the South African economy, Governor Lesetja Kganyago mentioned that the earlier emphasized interest rate normalization process will be paused on the back of an improved inflation outlook. The Bank highlighted that the global economy is expected to be affected by a significant rebound of the US economy, lower international oil prices and the ECB’s announcement of quantitative easing. On the other hand, conflicting implications for grow...

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