The South African Reserve Bank plays prudent by keeping the benchmark interest rate unchanged at 6.5%

SOUTH AFRICA - Report 21 Nov 2019 by Iraj Abedian

The South African Reserve Bank’s Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at its final meeting of 2019, leaving the benchmark interest rate at 6.5% and the prime interest rate at 10%, ending the year with only with one change in the repo rate in July 2019. Three members of the MPC are responsible for today’s outcome while two members had voted for a 25-basis point rate cut.

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