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You are here:Home>>Strategic Research & Analysis>> South Africa's Marcus leaves interest rates unchanged at 5.5%.
Thursday, 24 May 2012 16:08

South Africa's Marcus leaves interest rates unchanged at 5.5%.

Written by SAPA
Gill Marcus Gill Marcus mail&Guardian SA

 

Reserve Bank governor Gill Marcus has again announced interest rates will remain unchanged at 5.5%.

 

The Reserve Bank will maintain current interest rates, governor Gill Marcus said on Thursday.

 

It would leave the repo rate unchanged at 5.5% once again.

 

President Jacob Zuma. (Madelene Cronjé, M&G)

 

But the bank would continue to closely monitor the situation and stood ready to act in either direction, she said.

 

The prime rate would stay at 9%.

 

This was the ninth consecutive meeting where the repo rate remained unchanged, after it was reduced by 650 basis points between mid-2008 and November 2010.

 

It keeps the rate at its lowest level in over 30 years. The decision followed a meeting of the bank’s monetary policy committee in Pretoria.

 

- SAPA

 

 

 

 

Last modified on Thursday, 24 May 2012 16:13

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