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S.Africa's central bank to keep rates at record low at Sept. 23

S.Africa's central bank to keep rates at record low at Sept. 23
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Reserve Bank holds repo rate at 3.5% to support SA's...


The Reserve Bank’s Monetary Policy Committee (MPC) has again left the repo rate unchanged at its lowest level since it was introduced in 1998 – a unanimous decision by all of the committee’s five members. 
The Reserve Bank’s governor, Lesetja Kganyago, announced the decision on Thursday, 20 May 2021, to keep the repo rate at 3.5%, where it has been since July 2020. This is the third time in 2021 that the majority of MPC members voted to keep the repo rate unchanged at its bimonthly rates deliberation meeting.
Kganyago believes the bank’s monetary policy is still “accommodative” and that “there was no need to adjust policy at the meeting” as South Africa’s weak economy “could do with support”.   ....

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