Farmer's Weekly | Interest rates left unchanged

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Interest rates left unchanged

08:30 (GMT+2), Fri, 21 September 2012

By Staff Reporter

The Governor of the South African Reserve Bank, Gill Marcus has left the interest rate unchanged.

The Bank’s Monetary Policy Committee’s second last meeting of the year concluded on Thursday afternoon. The repo rate stays on 5%, after a surprise reduction of 0,5 percentage points in July. The prime lending rate stays at 8,5%. Marcus earlier said further interest rate cuts will depend on growth and inflation in coming months and should not be taken as a given.

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