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Repo rates remain unchanged─── 16:12 Thu, 23 Nov 2017
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South Africa's repo rate will remain unchanged, at 6,75%.
Reserve Bank Governor Lesetja Kganyago made this announcement a short while ago, at the central bank’s headquarters in Pretoria, following a meeting of the Monetary Policy Committee
The prime lending rate, which is the interest charged by banks to clients, will also remain at 10.25%.
The repo rate is the rate at which the central bank lends money to commercial banks, and this is the second consecutive time it has remained unchanged.
The last change to interest rates, was in July, when the bank cut the repo rate by 25 basis points, after 16 months of keeping the rate unchanged.
- OFM News
