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