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Sarb’s Monetary Policy Committee Set To Announce Repo Rate Decision

The South African Reserve Bank’s (Sarb) Monetary Policy Committee (MPC) is set to announce its interest rate decision on Thursday afternoon.

However, economists believe that consumers might not be facing another repo rate shock, as inflation cooled to 5.4%.

The bank has been increasing the repo rate to stop inflation.

Some economists are optimistic that the repo rate will remain unchanged, as the consumer price index significantly declined.

The MPC previously increased the repo rate on 10 consecutive occasions since November 2021 – which is currently standing at 8.25%.

Economist Dale McKinley said the repo rate might stay the same.

McKinley said this could bring relief to cash-strapped South Africans facing a high interest rate.