2 out of 5 MPC members wanted to cut rates. Lesetja Kganyago said, 'No!'
We are likely to see low inflation for longer… Risks to the outlook remain on the downside… You could make a case that interest rates can go down…Mamello Matikinca-Ngwenya, Chief Economist - FNB
The repo rate will remain unchanged at 6.75%, South African Reserve Bank (Sarb) governor Lesetja Kganyago announced on Thursday.
The Sarb’s Monetary Policy Committee left rates unchanged in March after hiking by 25 basis points in November 2018.
Listen to the interview in the audio below (and scroll down for more quotes from it).
There are still risks to the inflation outlook…Mamello Matikinca-Ngwenya, Chief Economist - FNB
Two of the five members voted for interest rates to be cut…Mamello Matikinca-Ngwenya, Chief Economist - FNB
Services inflation is starting to decline… Rentals have decreased quite significantly… Financial services… increased competition has forced prices to come down… Insurance premiums are coming down… This trend will likely continue in the rest of the year…Mamello Matikinca-Ngwenya, Chief Economist - FNB
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends: