The South African Reserve Bank (SARB) has for the second consecutive cycle kept the repurchase rate unchanged at 3.5% per annum.
The repo rate will remain unchanged at 6% per annum, Reserve Bank Governor Lesetja Kganyago said on Wednesday.
FinMark Trust annual FinScope South Africa 2013 survey results reveals a significant increase in financial inclusion compared to last year from 28.9 million people in 2012, to 30.7 million in 2013.
With SA's effective personal tax burden relative to income set to rise further this year, the decision keeps the combined fiscal and monetary policy impact on household finances negative.
The Reserve Bank’s Monetary Policy Committee (MPC) left the repo rate unchanged at 5,0%, in line with the market expectations.
The depreciation of the rand is estimated to spike inflation well above the 6% target, but the move would be “relatively constrained”, SA Reserve Bank Governor Gill Marcus said on Thursday.
SA Reserve Bank governor Gill Marcus has announced that the central bank has decided to keep its repo rate unchanged at 5.0%.
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