This keeps the prime rate at 9%.
THE monetary policy committee of the South African Reserve Bank kept the repo rate unchanged at 5.5%, a move applauded by economists.
This keeps the prime rate at 9%.
The repo is the rate at which the SARB lends to commercial banks, and the prime is the rate at which the banks lend to its prime clients.
The MPC last cut the rates by 50 basis points in November 2010.
Jacque du Toit, property analyst at Absa home loans, said it would be a welcome relief to people saving and pensioners relying on interest income.
Bank keeps repo rate at 5.5%
This keeps the prime rate at 9%.
THE monetary policy committee of the South African Reserve Bank kept the repo rate unchanged at 5.5%, a move applauded by economists.
This keeps the prime rate at 9%.
The repo is the rate at which the SARB lends to commercial banks, and the prime is the rate at which the banks lend to its prime clients.
The MPC last cut the rates by 50 basis points in November 2010.
Jacque du Toit, property analyst at Absa home loans, said it would be a welcome relief to people saving and pensioners relying on interest income.
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