The South African Reserve Bank has decided to keep the repo rate unchanged at 3.5%.
Governor Lesetja Kganyago made the announcement on Thursday after a meeting of the monetary policy committee.
“The Monetary Policy Committee has decided to hold the repurchase rate at 3.5%. The implied policy rate path of the Quarterly Projection Model (QPM) indicates an increase of 25 basis points in the fourth quarter of 2021 and in each quarter of 2022,” Kganyago said.
He said the risks to the inflation outlook appeared to be on the upside, despite weaker than expected services inflation outcomes in recent months.
“Risks emanate from rapid global producer price inflation, food price inflation, petrol, electricity, and other administered prices.”
-EWN
In other news – S.e.x scandal at Tshwane College: Lecturer sleeps with 2 sisters in exchange for getting them registered
A 20-year-old first-year tourism student is struggling to cope after she, and her older sister, were forced by a lecturer to sleep with him in exchange for getting them registered.
The student from Thohoyandou, Limpopo, said the lecturer at Tshwane South TVET College, who’s also head of the department, slept with them at his home in Mabopane, Tshwane, on 12 February. She said he picked them up at a garage and took them to his house. Learn More
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