Kganyago suggests record-low rates to remain in 2021
The Reserve Bank governor says inflation is under control and the economy needs the support
22 April 2021 - 18:50
Reserve Bank governor Lesetja Kganyago has suggested SA’s interest rates will stay at a record low throughout 2021, even as some economists debate the possibility of them rising due to faster inflation and higher bond yields in developed markets.
The Bank’s monetary policy committee (MPC), which next decides on rates on May 20, decided in March to keep its repo rate unchanged at 3.5%, the lowest since it was introduced in 1998, despite its in-house projection model suggesting hikes of 25 basis points in the second and fourth quarters of 2021...
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