{"id":130930,"date":"2016-07-21T15:30:33","date_gmt":"2016-07-21T13:30:33","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=130930"},"modified":"2016-07-21T15:33:27","modified_gmt":"2016-07-21T13:33:27","slug":"reserve-bank-keeps-interest-rate-on-hold-at-7","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/130930\/reserve-bank-keeps-interest-rate-on-hold-at-7\/","title":{"rendered":"Reserve Bank keeps interest rate on hold at 7%"},"content":{"rendered":"<p>In line with the consensus among economists, South African Reserve Bank (Sarb) governor <span class=\"post-text\">Lesetja Kganyago <\/span>on Thursday announced that there would be no change in the interest rate.<\/p>\n<p>This means that the repo rate, which is the interest rate at which the Sarb lends money to commercial banks, remains at 7%. The cost of borrowing stays at 10.5%.<\/p>\n<p>The Sarb&#8217;s monetary policy committee has raised the interest rate by a total of 100 basis points since November last year.<\/p>\n<p>The rand, which was trading below R14.30\/$ before the announcement and moved to R14.26 as Kganyago delivered the MPC statement.<\/p>\n<p><a href=\"http:\/\/www.fin24.com\/Economy\/no-change-in-rates-amid-uncertainty-20160721\" target=\"_blank\">News24<\/a><\/p>\n<h3 class=\"my-4\">More on South Africa<\/h3>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/business\/130432\/sarb-has-room-to-keep-interest-rates-on-hold-in-july\/\" target=\"_blank\"><strong>SARB has room to keep interest rates on hold in July<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/business\/129064\/debt-shock-for-south-africans-as-tough-economy-bites\/\" target=\"_blank\"><strong>Debt shock for South Africans as tough economy bites<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/lifestyle\/126987\/how-south-africas-economy-is-changing-the-way-we-shop\/\" target=\"_blank\"><strong>How South Africa\u2019s economy is changing the way we shop<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In line with the consensus among economists, South African Reserve Bank (Sarb) governor Lesetja Kganyago on Thursday announced that there would be no change in the interest rate.<\/p>\n","protected":false},"author":35,"featured_media":114834,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[25],"class_list":["post-130930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-active"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/130930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=130930"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/130930\/revisions"}],"predecessor-version":[{"id":130936,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/130930\/revisions\/130936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/114834"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=130930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=130930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=130930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}