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Interest rate remains unchanged

Category Market

 

South Africa’s central bank kept its benchmark lending rate at a 30 year low, in order to support recovery in the biggest economy in Africa.

The Monetary Policy Committee left the repurchase (repo) rate at 5.5% for a 7th consecutive meeting, Governor Gill Marcus announced in a televised press conference from Pretoria on the 19th of January.  This translates into a prime interest rate of 9%.

This was in line with the majority of forecasts from leading economists.

Author: Antonie Goosen

Submitted 28 Jan 12 / Views 3583