The South African Reserve Bank Governor, Lesetja Kganyago, has announced that the repo rate will be raised by 50 basis points to 7.75% on Thursday.
Kganyago says for the foreseeable future, economic and financial conditions are expected to remain more volatile. “In this uncertain environment, monetary policy decisions will continue to be data dependent and sensitive to the balance of risks to the outlook.
Against this backdrop, the MPC decided to increase the repurchase rate by 50 basis points to 7.75% per year, with effect from the 31stof March 2023. Three members of the Committee preferred the announced increase. Two members preferred a 25 basis points increase. #MPCMARC2023 pic.twitter.com/LMAKRvH77a
— SA Reserve Bank (@SAReserveBank) March 30, 2023
Source: eNCA
In other news – Mo Flava to host morning show on 947
Mo Flava whose real name is Moetie Tsiki joins 947 after exiting Metro FM. The DJ who spent 8 years in Metro will take over the weekdays 9 to 12 morning show starting from Monday, 3 April.
Mo says: “I am excited and honoured to be joining 947. I have always had the greatest admiration and respect for the Primedia platform. Learn more
