The Reserve Banks Monetary Policy Committee MPC has kept the repo rate unchanged at 6.75, Governor Lesetja Kganyago announced on Thursday. This leaves the prime lending rate at 10.25.
Kganyago says, The MPC decided to keep the policy rate unchanged, at 6.75. Two members favoured a cut of 25 basis points, while four preferred a hold.
He adds, The Quarterly Projection Model continues to forecast gradual rate cuts as inflation subsides. The model interprets the policy stance as moderately restrictive currently, with rates reaching neutral levels during 2027. As before, this rate path remains a broad policy guide.
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