Bank holds repo rate steady in split decision, but September cut now more likely
Reserve Bank expects inflation to return to the midpoint of its 3%-6% target band in the last quarter of 2024
18 July 2024 - 15:08
UPDATED 18 July 2024 - 19:20
As was widely expected, the monetary policy committee (MPC) of the Reserve Bank has kept the repo rate steady at 8.25% for a seventh consecutive meeting, warning again that “the battle against inflation is not yet won”.
Still, a more positive outlook that inflation will ease more quickly than previously expected has raised expectations that the Bank could start cutting rates at its next meeting in September...
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