National
Interest rates to increase slightly─── 18:53 Thu, 17 Jul 2014
Johannesburg - South African Reserve Bank Governor, Gill Marcus announced in Johannesburg this afternoon that the repo rate will increase by 0.25 percent to 5.75 percent.
Marcus said given the expected inflation trajectory the real repurchase rate remains slightly negative and well below its longer-term neutral level. She added the monetary policy stance remains supportive of the domestic economy and as before any future moves will be gradual and highly data dependent.
According to her the economic growth outlook has deteriorated since the last monetary policy committee meeting.
In January, the committee increased the repo rate by 50 basis points to 5.5 percent. In March and May the repo rate remained unchanged.
SAPA
