The recession apparently forced the SA Reserve Bank to keep the lending rate unchanged. However, three of the seven members of the bank’s monetary policy committee asked for a 25 basis point increase. The bank expects GDP to grow at 0.7% for 2018, against the forecast of 1.2% in July. Read the original article in..
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There is some good news for consumers – Repo rate remains unchanged
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SA Reserve Bank – Lending rates remain unchanged
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The SA Reserve Bank announced that the lending rate to banks remains the same at 6.5%. The prime lending rate will remain at 10%. The bank’s view of growth in the country for 2018 has been adjusted downwards to 1.2% which is still no motion of confidence in its own government. The Reserve Bank also..
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