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Reserve Bank to cut repo rate to 6.25%

16 January 2020 4:15 PM
Tags:
Sarb
Reserve bank
Lesetja Kganyago
Governor of the Reserve Bank
repor rate

South African Reserve Bank (Sarb) Governor Lesetja Kganyago has announced that the repo rate will be reduced 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%"

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.


16 January 2020 4:15 PM
Tags:
Sarb
Reserve bank
Lesetja Kganyago
Governor of the Reserve Bank
repor rate

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