Thursday, September 22, 2011

Repo Rate remains unchanged at five-point-five percent

By Khanyisa Tabata
22 September 2011

The SA Reserve Bank Monetary Policy Committee has decided leave the Repo Rate unchanged at five-point-five-percent.

Sanlam group economist Jac Loubser earlier predicted the rate would remain fixed until 2013.

Reserve Bank Governor Gill Marcus made the announcement this afternoon, saying the MPC are monitoring the ongoing global financial crisis and will act accordingly if needs be.

Fuel price will go up in October 2011 while food prices will follow in an upward momentum.

She says maize and wheat prices continue to increase globally and would continue in an upward momentum because of the weaker exchange rate.

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