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Sarb keeps rates steady

Cape Town -  SA Reserve Bank governor Lesetja Kganyago on Thursday announced that the interest rate will remain steady at 5.75%.

He said the monetary policy committee has unanimously decided to keep the rate unchanged for the third time since September last year.

In September, the repo rate remained unchanged at 5.75%, after it was increased by 25 basis points in July from 5.5%.

In March and May the repo rate remained unchanged, after it was increased by 50 basis points from 5.00% in January, according to Sapa.

The prime rate remains at 9.25%.

The repurchase (repo) rate is the interest rate at which the Sarb lends money to commercial banks. The prime rate is what commercial banks charge their most creditworthy borrowers.

LIVE: Interest rate to stay at 5.75%


Kganyago said the MPC had for some time emphasised that it was in a process of interest rate normalisation. "We have some room to pause in this process. "

He said risks to the inflation outlook are assessed to be moderately on the down side, mainly due to electricity constraints and its impact.

He said that the rand has been affected by domestic factors including the Eskom's rolling power blackouts.








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