Reserve Bank governor Tito Mboweni has announced for the last time, that the repo rate was accordingly left unchanged at 7.00%.

The Reserve Bank will likely keep interest rates steady at the end of the MPC meeting, the last chaired by Reserve Bank Governor Tito Mboweni.

The South African Reserve Bank’s monetary policy committee on Tuesday decided to keep the repo rate unchanged at 7,0%.

SA’s central bank looks set to keep interest rates steady this week, with latest data suggesting the struggling economy could well be on the mend.

The Reserve Bank is likely to leave interest rates unchanged at its policy meeting next week, as concerns about the ailing economy abate.

The monetary policy committee of the South African Reserve Bank has cut the repo rate by 50 basis points.

The South African Reserve Bank (SARB) began its two-day meeting on interest rates on Wednesday morning, a spokesperson for the bank confirmed.

With interest rates going negative, only the rich can afford to stay in cash

There will not be any further interest rate reductions in the forseeable future, the Bureau for Economic Research said on Tuesday.

South Africa’s manufacturing output contracted in the year to May, official data showed, indicating the sector remains under pressure.

South Africa will keep its policy of targeting inflation, which has helped to stabilise prices and encouraged economic growth.