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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.







Last modified on Thursday, 24 May 2012 16:13

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