Good news for consumers. The SA Reserve Bank is reducing the repo rate by 25 basis points to 6.25% per annum.
Reserve Bank Governor Lesetja Kganyago announced the bank’s decision on interest rates following the meeting of the monetary policy committee.
He said: “Monetary policy actions will continue to focus on anchoring inflation expectations near the mid-point of the inflation target range in the interest of balanced and sustainable growth.
“In this persistently uncertain environment, future policy decisions will continue to be highly data-dependent, sensitive to the balance of risks to the outlook, and will seek to look-through temporary price shocks.”