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Marcus steps down as Reserve Bank governor

SA Reserve Bank governor Gill Marcus is stepping down from her position in November.

Marcus announced that she will not be renewing her contract as the governor when it expires in November.

"This is my last MPC. I have advised the president some time ago that I would not be available for renewal," said Marcus after announcing that the repo rate remains unchanged.

She will be stepping down after a five year successful term after guiding the country through a global financial crisis.

The repo rate will remain unchanged at 5.75 percent, the SA Reserve Bank's monetary policy committee decided on Thursday.

Marcus said the domestic growth outlook remained "weak".

In January, the repo rate increased by 50 basis points to 5.5 percent, and in July it increased by 25 basis points to 5.75 percent.

In March and May the repo rate remained unchanged.

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