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The Reserve Bank's monetary policy committee has kept the repurchase rate unchanged at 8.25% per annum.
Governor Lesetja Kganyago said on Thursday that the decision was unanimous, following this week's meeting of the MPC.
Meanwhile, looking at the year ahead, he said the bank's forecasting, among others, that fuel price inflation will be low, averaging below 1% in 2024.
Kganyago however offers this caution for households battling the high cost of living.
"Food price inflation is revised slightly higher for 2024 to 5.7%, but remains broadly unchanged over the forecast period," he said.
The governor said core inflation was 4.9% in 2023, and the forecast for 2024 and 2025 is little changed at 4.6% and 4.5% in 2026.
Against this backdrop, the MPC decided to keep the repurchase rate at its current level of 8.25% per year. The decision was unanimous.#SARBMPCJAN2024 pic.twitter.com/0jC9wsIrh7
— SA Reserve Bank (@SAReserveBank) January 25, 2024
