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Reserve Bank governor, Gill Marcus, says the repo rate will remain unchanged at five percent, and the prime lending rate at 8.5 percent.
The repo rate is the interest rate at which the Reserve Bank lends money to commercial banks.
Marcus says growth prospects remain fragile amid low consumer confidence.
Data from Statistics South Africa showed inflation was unchanged at 5.9 percent year-on-year in April, and on a month-on-month basis, inflation slowed to 0.4 percent, compared with 1.2 percent in March.
With the repo rate unchanged at five percent, there is little chance of people chipping away at the interest they owe, FNB's
household and property strategist said after the announcement.
