Reserve Bank expected to keep interest rates at record lows

Reserve Bank expected to keep interest rates at record lows
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The South African Reserve Bank (SARB) is anticipated to keep interest rates at historic lows this month, data from a new Reuters poll shows.
South Africa’s Monetary Policy Committee (MPC) will meet for the first time in 2021, next Thursday (January 21).
A Reuters poll out Thursday, showed that 17 of 20 economists believe that Reserve Bank governor Lesetja Kganyago will keep the repo rate at 3.50% for the remainder of 2021, as Covid-19 continues to batter global economies.
The remaining three analysts forecast a 25 bps cut.
Inflation, which turned much weaker last year compared to previous years, is expected to average 3.8% this year, lower than the midpoint of the Reserve Bank’s comfort range of 3-6%, Reuters said.

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