{"id":176587,"date":"2017-05-25T15:34:35","date_gmt":"2017-05-25T13:34:35","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=176587"},"modified":"2017-05-25T15:34:35","modified_gmt":"2017-05-25T13:34:35","slug":"sarb-leaves-repo-rate-unchanged","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/176587\/sarb-leaves-repo-rate-unchanged\/","title":{"rendered":"SARB leaves repo rate unchanged"},"content":{"rendered":"

Aligning with what many analysts and economists predicted, the South African Reserve Bank has left the repo rate unchanged at 7%.<\/p>\n

In making the announcement<\/a><\/strong>, SARB\u00a0governor Lesetja Kganyago said\u00a0that despite inflation having moderated, the outlook for South Africa’s economic growth has deteriorated.<\/p>\n

“Domestic economic growth prospects have deteriorated, as the impact of the ratings downgrade is expected to weigh on domestic investment and consumer sentiment over the forecast period,” he\u00a0said.<\/p>\n

However, the trajectory of the growth forecast is still positive, and the growth rate for this year is expected to exceed that recorded in 2016.\u00a0Growth is expected to reach 1% (down from 1.2% forecast in March).<\/p>\n

The governor warned of further ratings decisions coming shorty – particularly from Moody’s – which will have an impact on the economy.<\/p>\n

“With further ratings decisions imminent, risks remain for a further depreciation against the backdrop of continued global and domestic political uncertainty,\u201d Kganyago said.<\/p>\n

“Headline inflation has now returned to within the target range as expected, with outcomes in March and April surprising on the downside,” he said.<\/p>\n

“While the inflation outlook has improved over the near term, the longer-term forecast trajectory is unchanged and uncomfortably close to the upper end of the target range.”<\/p>\n

Kganyago said that the predicted inflation rate will average 5.7% for 2017, shifting down to 5.1% in 2018 and 5.3% in 2019.<\/p>\n

\n

Read:\u00a0What will happen if South Africa is hit with more downgrades<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Aligning with what many analysts and economists predicted, the South African Reserve Bank has left the repo rate unchanged at 7%.<\/p>\n","protected":false},"author":10,"featured_media":118672,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[25],"class_list":["post-176587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-active"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176587","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=176587"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176587\/revisions"}],"predecessor-version":[{"id":176589,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176587\/revisions\/176589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/118672"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=176587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=176587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=176587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}