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Cape Town - SA Reserve Bank (Sarb) Governor Lesetja Kganyago will announce the monetary policy committee’s (MPC) decision on interest rates.
This is the second MPC meeting for the year.
The repurchase rate, which is the interest rate at which the Sarb lends money to commercial banks, has been steady at 7%, while the prime-lending rate, which is the rate at which banks lend money to consumers, has been at 10.5%.
The repurchase rate was last cut in July 2012, when then-Governor Gill Marcus dropped it by 50 basis points to 5%, the lowest in at least 14 years, reported Bloomberg.
However, interest rates are likely to remain at 7%, despite risks to inflation having eased since the MPC's meeting in January, according to economists.
