Business
MPC holds repo rate─── 15:41 Thu, 21 May 2015
Johannesburg - The Reserve Bank's monetary policy committee has left the repo rate unchanged at 5.75%.
Governor Lesetja Kganyago noted that they are concerned over a deteriorating inflation outlook on higher oil prices and a weak rand.
Kganyago said the decision to hold the repo rate was not unanimous.
The repo rate was last raised by 25 basis points to 5.75% in July 2014, and has remained the same since then.
The repo rate was last raised by 25 basis points to 5.75% in July 2014, and has remained the same since then.
Economists expect interest rates to rise before year-end and have forecast inflation to be at the upper end of the 3% to 6% target band later this year.
Lesetja Kganyago: