Zuko Komisa

Sigh of relief ahead of the festive season – Repo rate remains unchanged at 8.25%
The South African Reserved Bank(SARB) has confirmed that the repo rate is staying at 8.25%, news that has been widely welcome just before the holidays.
In an effort to combat spiraling inflation, the SARB has decided to maintain rates for the third time in a row after an aggressive cycle of rate hikes totaling 475 basis points since late 2021.
Kganyago cautioned on Thursday that there were still significant risks to South African inflation, with food prices continuing to rise in October.
“As we approach the end of the year, easing headline inflation and modest economic growth remain the dominant global economic trends of this past year” he said
Against this backdrop, the MPC decided to keep the repurchase rate at its current level of 8.25% per year. The decision was unanimous. #SARBMPCNOV23 pic.twitter.com/Fys9v2vxPZ
— SA Reserve Bank (@SAReserveBank) November 23, 2023
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