The Reserve Banks Monetary Policy Committee has decided to keep the repo rates unchanged at 7.5 and the prime lending rate also unchanged at 10.5.
The announcement is in line with the analysts expectations. Despite reduced inflation expectations, the bank was expected to hold its rate-cutting cycle this time around. The final cut is only expected at its last meeting in November.
In July, the MPC decided to cut rates by 25-basis points taking the repo rate to 7.5 and the prime lending rate to 10.5.
