SA Reserve Bank keeps the repo rate unchanged at 6.75%

Zuko Komisa

• The MPC paused its “stop-and-go” cycle, keeping the repo rate at 6.75%.
• The decision met investor expectations for stability amid global volatility.
• Prime lending rates are expected to remain unchanged at 10.25%.

The Reserve Bank’s Monetary Policy Committee (MPC) has elected to maintain the repo rate at its current level, marking a significant shift away from a recent cycle of intermittent adjustments.

Following a series of intensive deliberations this week, the central bank confirmed today that the benchmark repo rate will remain at 6.75%.

Consequently, the prime lending rate is set to stay at 10.25%, pending formal confirmation from commercial banks.

The decision aligns with the consensus among City economists, who had anticipated a “wait-and-see” approach.

Analysts suggest the MPC is adopting a guarded stance to navigate a backdrop of volatile global market conditions.

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