• Growing people

    What is the most powerful way to develop the capabilities of people at work? Ian Mann answers.

  • Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

All data is delayed
Loading...
See More

Interest rates unchanged

Sep 20 2012 15:21
Cape Town - The Reserve Bank will maintain current interest rates, governor Gill Marcus said on Thursday.

It will leave the repo rate unchanged at 5.0% after a surprise 50 basis-point rate cut in July. The prime lending rate is currently at 8.5%.

July's rate cut was the first interest rate reduction since November 2010.

Marcus earlier said further interest rate cuts will depend on growth and inflation in coming months and should not be taken as a given.

"The monetary policy committee is of the view that a further reduction in the repo rate would not be appropriate at this stage," she said at a televised news conference in Pretoria.

The repo rate is the rate at which commercial banks can borrow money from the Sarb.

* Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.  
 
gill marcus  |  interest rates  |  sa economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Have you experienced FNB’s outage problem?

Previous results · Suggest a vote

Loading...