SARB Governor Lesetja Kganyago announces repo rate remains unchanged
Kganyago made the announcement during a briefing on Thursday afternoon.
South African Reserve Bank Governor Lesetja Kganyago. Picture: AFP
JOHANNESBURG – The Monetary Policy Committee has decided to hold the repo rate 3.5%, with effect from 18 September 2020.
Reserve Bank Governor Lesetja Kganyago made the announcement during a media briefing on Thursday afternoon.
The bank has reduced the rate by 300 basis points so far this year, in an effort to promote growth amid an economy suffering under the effects of the COVID-19 lockdown.