Sarb keeps repo rate at 6.75%
South Africa‘s central bank kept its benchmark repo rate unchanged at 6.75% on Thursday in a unanimous decision, saying it assessed the risks to the inflation outlook to be more or less balanced.
All economists surveyed by Reuters predicted the repo rate would remain on hold.
Some comments from Sarb Governor, Lesetja Kganyago:
Kganyago: MPC takes note of recent inflation outcomes and welcomes moderation in inflation expectations. Risks to inflation outlook more or less evenly balanced. Rising prices (electricity, food, oil) key risks. #Sarb #MPC
— Moneyweb News (@Moneyweb) March 28, 2019
Kganyago: Household consumption expenditure remains constrained by low employment growth, electricity hikes. #Sarb #MPC
— Moneyweb News (@Moneyweb) March 28, 2019
Kganyago: Since the January #MPC meeting, the rand has depreciated 6.4% against the US dollar. #Sarb
— Moneyweb News (@Moneyweb) March 28, 2019
Kganyago: Although global growth conditions remain benign, pace of growth slower than expected. Concerns around ongoing trade tensions, tariff hikes as well as country-specific factors. #Sarb #MPC
— Moneyweb News (@Moneyweb) March 28, 2019
Kganyago: Average #inflation expectations have been declining since end 2017. Inflation expectations in Q1 2019 declined from 5.4% to 4.8% for 2019. #Sarb #MPC
— Moneyweb News (@Moneyweb) March 28, 2019
Source: moneyweb.co.za