SARB keeps interest rates on hold in blow for South Africans in debt

SARB keeps interest rates on hold in blow for South Africans in debt

The South African Reserve Bank (SARB) elected to keep interest rates on hold, dealing a blow to those South Africans in debt. Governor Lesetja Kganyago announced the decision at a press briefing on Thursday. The SARB’s Monetary Policy Committee’s (MPC) six members were not unanimous in making the decision. Four preferred to keep them on hold, while the other two favoured a 25 basis point cut. The final MPC meeting of the year will take place on …

Lesetja Kganyago keeps interest rates on hold despite low-inflation environment

The Reserve Bank has decided to keep the repo rate on hold despite the economy going through a low inflation environment. This was announced by Reserve Bank Governor Lesetja Kganyago on Thursday, saying the repo rate will remain unchanged at 7%. This is despite Kganyago’s projection that headline inflation is expected to be around 3.4% for 2025 and 3.6% in 2026 and then move back to 3% in 2027, which is the lower end of the Reserve Bank’s moneta…