MPC keeps the repo rate unchanged at 6.75%
The MPC keeps the repurchase rate unchanged at 6.75%. The prime lending rate currently stands at 10.25%.
Governor Lesetja Kganyago is delivering the Monetary Policy Committee statement.
Kganyago says, “The MPC decided to keep the policy rate unchanged, at 6.75%. Two members favoured a cut of 25 basis points, while four preferred a hold.”
He adds, “The Quarterly Projection Model continues to forecast gradual rate cuts as inflation subsides. The model interprets the policy stance as moderately restrictive currently, with rates reaching neutral levels during 2027. As before, this rate path remains a broad policy guide.”
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