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Thursday, 19 September 2019 15:22

Repo rate remain unchanged at 6.5%

South African Reserve Bank (Sarb) Governor Lesetja Kganyago has announced this afternoon that the repo rate will remain unchanged at 6.5%.

The repo rate is the benchmark interest rate at which central bank lends money to commercial banks.

The decision follows this week's Monetary Policy Committee meeting.

In July,the Reserve Bank cut the repo rate by 25 basis points rate cut to 6.5%.