Business and Technology

Reserve Bank keeps repo rate unchanged – Reserve Bank Governor Lesetja Kganyago

The South African Reserve Bank has kept the repo rate unchanged. Reserve Bank Governor, Lesetja Kganyago said the Monetary Policy Committee decided to hold the repo rate at 3,5 percent. The prime lending rate at commercial banks remains at 7 percent.

Two MPC members voted for a 25 basis-point cut, while three voted for the bank to hold rates steady.

Lesetja Kganyago

The announcement comes as South Africa reels from a new wave of COVID-19 infections and after harder lockdown restrictions were introduced in late December.

In other news – Kabza De Small shows love to his mum

Kabza De Small has shown off the woman who brought him to the world. The amapiano DJ decided to surprise his fans and followers by sharing a picture of himself with his mom. Learn more

Source: eNCA