Interest rates | Repo rate remains at 8.25%

JOHANNESBURG - The Reserve Bank's Monetary Policy Committee has again left the repo rate unchanged at a 14-year high of 8.25%.

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Reserve Bank Governor Lesetja Kganyago said, "Achieving permanently lower inflation and interest rates requires inflation expectation to be closed anchored to mid point of the target rate."

"Against this backdrop, the MPC decided to keep the repurchase rate at its current level of 8.25% per year."

"The decision was unanimous, at the current repurchase rate level, policy is restrictive, consistent with the inflation outlook and the need to address rising inflation expectations, serious upside risks to the inflation trajectory from global and domestic sources are evident and as noted earlier."

"The economic outlook is highly uncertain. The inflation and repo rate projections from the updated QPM, remain a broad policy guide, changing from meeting to meeting in response to new data."

"Future committee decisions will data dependent and sensitive to the balance of risks to the outlook."