Repo Rate Unchanged !
Updated: Jun 13
In line with economists’ predictions, the Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 3.5%, and, thus the prime lending rate also remains unchanged at 7%. Making the announcement, Governor Lesetja Kganyago said that projections of future inflation have broadly stabilised at around 4.0% for 2021 and 4.2% for 2022.
“This is a crucial time for South African property owners who should also be preparing for municipal tax hikes, planned for July, and the potential of higher fuel prices,”