'Jacob Zuma’s actions are keeping the cost of debt higher than it needs to be'

South African Reserve Bank (Sarb) governor Lesetja Kganyago has announced that the repo rate will remain unchanged at 7%.

The prime lending rate, which is the figure charged by banks to customers, will remain at 10.5%.

Kganyago says political developments have impacted on the rand, and the MPC is concerned about the fluctuating currency.

The Money Show's Bruce Whitfield interviewed FNB Economist Mamello Matikinca about why the Sarb decided not to cut interest rates.

According to Matikinca, Jacob Zuma’s actions are “definitely” keeping the cost of debt higher than it needs to be.

Listen to the interview in the audio below.

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Article brought to us by Old Mutual.

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