Repo rate remains unchanged
·20 Sep 2012
The Reserve Bank’s monetary policy committee (MPC) has kept the repo rate unchanged at 5.0% after its three day meeting in Pretoria.
Consensus was for rates to be kept on hold by a survey of leading economists by I-Net Bridge. Of the 12 economists polled‚ only two had expected a 50 basis point rate cut.
Reserve Bank Governor Gill Marcus said the current accommodative monetary policy stance was supportive.
She noted‚ however‚ that risks to economic growth were on the downside‚ while the low point of inflation was believed to have already been reached.
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