SA Reserve Bank (SARB) governor Lesetja Kganyago has appointed his deputy Fundi Tshazibana as CEO of the central bank's financial institution regulator, the Prudential Authority.
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.