The decision of the South African Reserve Bank’s Monetary Policy Committee to hold the repurchase rate at 6.5% today
is good news for Pres. Cyril Ramaphosa’s economic stimulus package.
Now is the time to consolidate, grow and stabilise the economy to further the President’s plans, which would have been difficult with increased interest rates.
The annual consumer inflation, as announced by Stats SA, was slightly lower than expected, with a consumer price index increase of 4.9% in August, means no increased no inflationary pressure and therefore no reason for the SARB to increase interest rates.
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