Reserve Bank keeps repo rate unchanged

[BusinessTech]

Reserve Bank keeps repo rate unchanged

The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 3.5% per annum.

 

[backstreetboy]

Pity. Savings rate is dismal currently.

 

[rvZA]

They did not have much other options left to them. With such high unemployment rate, companies and economy struggling to survive, people taking pay cuts the past year, losing out on bonuses and increases, etc., raising the interest rates, and subsequently raising the debt levels for consumers, would have been catastrophic.

Besides, those still saving under current conditions are the vast minority of the country and hardly worth mentioning. In addition to this, SA is seen in such a bad light by credit rating agencies and the world, raising the interest rate levels would not have attracted any meaningful foreign capital either.

 

[Speedster]

Pity. Savings rate is dismal currently.

Us poor people with debt prefer it this way

 

[krycor]

Likely gonna start raising end of year or next.