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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
The majority of the Monetary Policy Committee members of the SA Reserve Bank (SARB) voted to keep the policy interest rate unchanged. While two members voted for a 25bps cut, four members voted for a hold. This means that the repo rate is unchanged at 6.75% (prime at 10.25%).
