Africa News Bulletin

SA RESERVE BANK HIKES REPO RATE TO 4%

The repo rate has increased by 25 basis points to 4%.

Reserve Bank Governor Lesetja Kganyago on Thursday announced the MPC’s decision in Pretoria.

“The MPC has decided to increase the repurchase rate by 25 basis percentage for 4% per year with effect from 28 January. Four members of the committee preferred an increase and one member preferred an unchanged rate.”

He said inflation was a problem driven by higher oil and food prices.

Original story on EWN

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top