Repo rate to remain unchanged at 6.5%

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The repo rate is the rate at which the central bank lends money to commercial banks.

PRETORIA - South African Reserve Bank governor Lesetja Kganyago has announced that the repo rate will remain unchanged at 6.5%.At its previous meeting in September, the Monetary Policy Committee also decided to keep the rate unchanged, citing factors that could influence inflation.

On Wednesday, Stats SA announced that the headline consumer price index fell to 3.7% in October, from 4.1% the month before, representing its lowest level since February 2011.

 

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