The Repo Rate Remains Unchanged

SOUTH AFRICA - Report 20 Nov 2014 by Iraj Abedian
In his inaugural Monetary Policy Committee (MPC) address, South African Reserve Bank (SARB) Governor Lesetja Kganyago announced that the committee unanimously voted in favor of no change in the repo rate. Therefore, the repo rate remains at 5.75% per year (see Graph 1). Graph 1 Headline/Core Inflation and Repo Rates Source: SARB, Stats SA and PAIRS. A moderation in the headline inflation rate and a low economic growth environment are the key factors that persuaded the MPC to take a breather during the course of its interest rate hiking cycle drive. The annual rate of change in consumer pric...

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