The repo rate will remain unchanged at 5.75 percent, SA Reserve Bank governor Lesetja Kyanyago said on Thursday.
"Given the uncertainty related to the US policy normalisation and the weak state of the domestic economy, the MPC (monetary policy committee) has unanimously decided to keep the repurchase rate unchanged for now," Kganyago said in Pretoria.
The repo rate has remained the same since September last year, following a 25 basis points increase in July from 5.5 percent.
Kganyago said the rand remained unstable.
"The rand is expected to remain volatile, while uncertainty regarding the outlook for US monetary policy persists," he said.
"The commencement of US interest rate increases, when it happens, is expected to put the currency under pressure."
The rand was expected to remain sensitive to developments on the current account of the balance of payments.
Repo rate remains unchanged
The repo rate will remain unchanged at 5.75 percent, SA Reserve Bank governor Lesetja Kyanyago said on Thursday.
"Given the uncertainty related to the US policy normalisation and the weak state of the domestic economy, the MPC (monetary policy committee) has unanimously decided to keep the repurchase rate unchanged for now," Kganyago said in Pretoria.
The repo rate has remained the same since September last year, following a 25 basis points increase in July from 5.5 percent.
Kganyago said the rand remained unstable.
"The rand is expected to remain volatile, while uncertainty regarding the outlook for US monetary policy persists," he said.
"The commencement of US interest rate increases, when it happens, is expected to put the currency under pressure."
The rand was expected to remain sensitive to developments on the current account of the balance of payments.
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