An Unsurprising Move by the Reserve Bank not to Hike Interest Rates

SOUTH AFRICA - Report 21 Jul 2016 by Iraj Abedian

​The South African Reserve Bank announced today it was keeping the benchmark interest rate at 7%, meaning that the prime lending rate would also remain at 10.5%. This was the second time in a row this year that the MPC decided not to increase the repo rate (decreasing the rate has not been an option lately due to persistent pressure on inflation).

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