SARB decides on a cautionary "wait and see" approach, keeping the repo rate unchanged

SOUTH AFRICA - Report 20 Nov 2020 by Iraj Abedian

In a largely anticipated move, the South African Reserve Bank (SARB) has opted to keep the repo rate unchanged at the last MPC meeting of the year. This comes as two members of the committee preferred a 25-bps cut and three members voted for a hold. The decision is in line with Bloomberg economists’ survey consensus, and comes against the backdrop of the interaction of a number of influencing factors such as global and domestic lockdowns, inflation and the exchange rate outlook. This narrative is similar to September 2020.

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