The South African Reserve Bank leaves interest rates unchanged following the country’s unrest

SOUTH AFRICA - Report 23 Jul 2021 by Iraj Abedian

The Reserve Bank’s Monetary Policy Committee (MPC) again voted to leave the benchmark interest rate unchanged following the conclusion of its fourth meeting of the year. As such, the repo rate remains at 3.5% and the prime lending rate at 7%. This was the outcome despite the MPC’s view that the overall risks to the inflation outlook in the short run are on the upside.

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