SA Reserve Bank keeps interest rates unchanged

Johannesburg – The South African Reserve Bank (SARB) today announced its latest decision on interest rates in the country.

Sarb governor, Lesetja Kganyago, made his announcement following a three-day meeting with the Monetary Policy Committee.

“Recent unrest and economic damage could have lasting effects on investor confidence and job creation. The direct and indirect costs of these events will likely further slow South Africa’s economic recovery. We estimate the unrest to have fully negated the 2021Q1 growth outcome,” Kganyago said during his announcement.

Kganyago announced that the SA Reserve Bank will keep interest rates unchanged at this stage.

This means that the repo rate will remain at 3.5%, leaving the prime lending interest rate at 7%.

GDP growth 

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