Monetary Policy Committee meets in Pretoria

Wednesday, October 21, 2009

Pretoria - The Reserve Bank's Monetary Policy Committee (MPC) will kick off a two-day meeting in Pretoria today to discuss whether the repo rate should be changed considering the current economic climate.

This is expected to be the last MPC meeting that Governor Tito Mboweni will chair. Gill Marcus will take over the reigns on 9 November.

Economists predicted that the repo rate would remain unchanged after last month's meeting decided to keep the rate at 7 percent.

The MPC is likely to take into consideration Eskom's proposed tariff increase of 45 percent every year over the course of the next three years when it makes its decision.