Interest rates remain unchanged, for now, while the rand remains stable

The South African Reserve Bank’s Monetary Policy Committee has left the repo rate unchanged at 7%.

The prime lending rate remains at 10.5%.

Reserve Bank Governor Lesetja Kganyago says the hiking cycle may be at an end, though this could change if domestic and international pressures increase.

The Money Show’s Bruce Whitfield interviewed FNB Economist Mamello Matikinca.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

It does seem that they are very concerned about the inflation outlook.

Mamello Matikinca, FNB

If they were going to hike; today was the opportune time.

Mamello Matikinca, FNB

The rand has gained 5% on a trade-weighted basis since the MPC last met.

Mamello Matikinca, FNB

Domestic issues pose a risk for the rand.

Mamello Matikinca, FNB

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Article brought to us by Old Mutual.


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