Ricochet News

Reserve Bank to announce repo rate decision on Thursday afternoon

Jul 20, 2017
Reserve Bank to announce repo rate decision on Thursday afternoon

The South African Reserve Bank (SARB) Monetary Policy Committee (MPC) is expected on Thursday afternoon to announce its decision on whether it will cut or leave the repo rate unchanged. The bank left interest rates at 7% in May.

Some economists anticipate the repo rate will remain unchanged for a 16th consecutive month at 7%.

The banks MPC members began deliberations on Tuesday.

Meanwhile the Rand weakened against the US dollar early on Wednesday as investors awaited consumer price inflation and retail sales data.

Statistics South Africa is due to release June CPI figures and May retail sales numbers.