Repo rate unchanged at 3.5 percent

Reserve Bank Governor Lesetja Kganyago says that monetary policy has eased financial conditions and improved the resilience of households and business amid the economic implications of Covid-19. The bank announced its decision to keep the repo rates unchanged at 3.5 percent as expected. Delivering the Monetary Policy Committee's decision, Kganyago says monetary policy on its own cannot improve the potential growth rate of the economy or reduce fiscal risks.