Wednesday, October 21, 2009

Monetary Policy Committee meets in Pretoria

By Khanyisa Tabata
21 October 2009

The Reserve Bank’s Monetary Policy Committee is expected to start a two day meeting in Pretoria to discuss whether the repo rate should be changed considering the current economic climate.

The meeting is expected to be the Reserve Bank Governor Tito Mboweni’s last meeting. Next month Gill Marcus will take over the reigns.

Economists predicted that the repo rate would remain unchanged after last month’s meeting decided to keep the rate at 7 percent.

The MPC is likely to take into consideration Eskom’s proposed tariff increase of 45 percent every year over the course of the next three years when it makes its decision.


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