The SA Reserve Bank has left the repo rate unchanged at 5.5 percent, governor Gill Marcus said on Thursday.
The prime rate would stay at 9%
This was in line with market expectations, with various economists --including André Roux of Investec Asset Management and Tendani Mantshimuli of Liberty Life -- saying earlier in the week the interest rate was expected to remain unchanged.
This was the eighth 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 three-day meeting of the bank's Monetary Policy Committee in Pretoria.
Sapa
