The SARB Kicks off the Year by Raising the Repo Rate by 50 basis Points

SOUTH AFRICA - Report 28 Jan 2016 by Iraj Abedian
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) opted to increase the repurchase (repo) rate, the country’s benchmark interest rate, by 50 basis points during its first meeting of the year in 2016. This has brought the repo rate up from 6.25% to 6.75% per annum. The increase was somewhat expected, particularly in the face of rising inflation that saw the core CPI rate accelerating by 0.4 percentage point from 4.8% to 5.2% year on year in December 2015, while the core PPI rate also went up, by 0.5 percentage points year on year to post 4.8% in the same month (see...

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