Repo rate reduced

Thursday, July 19, 2012

The prime rate would decline to 8.5 percent.

The committee had looked at a range of issues such as the inflation figures, the global economy outlook and the Rand/Dollar exchange rate when they met this week.

The MPC had kept the repo rate at 5.5% for the last nine meetings.

Most economists had expected the MPC to keep the repo rate unchanged.

Most Read