National
Repo rate unchanged─── 15:36 Thu, 19 Sep 2013
Pretoria - The repo rate will remain unchanged, the SA Reserve Bank's monetary policy committee said on Thursday.
"Given the global uncertainties and downside growth risks the monetary policy committee has decided to keep the rates unchanged at five percent per annum," the bank's governor Gill Marcus said at a televised news conference in Pretoria.
"Given the global uncertainties and downside growth risks the monetary policy committee has decided to keep the rates unchanged at five percent per annum," the bank's governor Gill Marcus said at a televised news conference in Pretoria.
This is the rate at which commercial banks borrow money from the SARB, and is used to calculate the prime interest rate banks give their best customers.
She said it was a balancing act to decide what was appropriate because the risk to inflation had increased. The rand was highly volatile and expected to remain sensitive to global markets, and above-inflation wage settlements had been reached.
Sapa
Gill Marcus:
