JOHANNESBURG - Leaving the repo rate unchanged is good news for homeowners and indebted consumers.
The South African Reserve Bank decided to leave interest rates unchanged - despite expectations of a hike due to high inflation in June.
In May, the Reserve Bank hiked rates for the first time in six years.
READ | SA Reserve Bank leaves repo rate unchanged
On Thursday, Governor Lesetja Kganyago announced there would be no change to the interest rate and the repo rate would remain at 7% while the prime lending rate would stay at 10.5%.
The Reserve Bank said there are risks to inflation as the fighting in the Middle East continues, affecting oil prices.
But for now, consumers and businesses have been spared another increase in borrowing costs.