businesstech.co.za 14 Jan, 2021 10:15 am

Reserve Bank expected to keep interest rates at record lows

Reserve Bank expected to keep interest rates at record lows
The South African Reserve Bank (SARB) is anticipated to keep interest rates at historic lows this month, data from a new Reuters poll shows.

The South African Reserve Bank (SARB) is anticipated to keep interest rates at historic lows this month, data from a new Reuters poll shows.A Reuters poll out Thursday, showed that 17 of 20 economists believe that Reserve Bank governor Lesetja Kganyago will keep the repo rate at 3.8% this year, lower than the midpoint of the Reserve Bank’s comfort range of 3-6%, Reuters said.“The South African Reserve Bank has cut rates by 275bps in response to the Covid-19 crisis and sees this as enough for now.

South Africa’s Monetary Policy Committee (MPC) will meet for the first time in 2021, next Thursday (January 21).While there are several promising negotiations with a number of different manufacturers that are yet to be concluded, South Africa has to date secured 20 million doses to be delivered mainly in the first half of the year.

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