Reserve Bank to cut repo rate to 6.25%
The repo rate is the rate at which the central bank lends money to commercial banks.
The Reserve Bank’s Monetary Policy Committee (MPC) voted to cut the repo rate by 25 basis points this week.
Kganyago says "monetary policy actions will continue to focus on anchoring inflation expectations near the mid-point of the inflation target range of between 4-6%"
The MPC decided to reduce the repurchase rate by 25 basis points to 6.25% per annum. pic.twitter.com/NgAESaShWj— SA Reserve Bank (@SAReserveBank) January 16, 2020
In July last year, Sarb reduced the repo rate by 25 basis points to 6.5% and it was kept unchanged in September and November.
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