The South African Reserve Bank keeps rates unchanged amid ongoing sticky inflation

SOUTH AFRICA - Report 27 Mar 2024 by Iraj Abedian

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) announced today that it is once again leaving the benchmark interest rate unchanged, a decision that was largely expected. This comes after the Bank’s MPC held the repurchase (repo) rate unchanged for four consecutive meetings, making this one the fifth. Consequently, this leaves the repo rate at 8.25% and the prime lending rate at 11.75%.

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