MONETARY POLICY
Reserve Bank keeps rates steady but MPC opinion still split 3-2
The announcement comes as SA reels from a new wave of Covid-19 infections and harder lockdown restrictions
21 January 2021 - 15:16
The SA Reserve Bank’s monetary policy committee (MPC) was split by a single vote in favour of keeping interest rates on hold for a third meeting in a row.
Policymakers voted 3-2 to keep the repo rate at a record low of 3.5% on Thursday. Some analysts had argued for a cut to support an economy that is reeling from Covid-19 and renewed lockdowns, while the Bank’s own projections indicate that inflation will stay comfortably within its 3%-6% target range...
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