Interest rates left unchanged

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

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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.