The prime rate would decline to 8.5 %, which is good news for the South African consumer, who is reeling under the weight of food, electricity and petrol price increases.
The committee had looked at a range of issues such as the inflation figures, the global economy outlook and the Rand/Dollar exchange rate when they met this week.
The MPC had kept the repo rate at 5.5% for the last nine meetings.
Most economists had expected the MPC to keep the repo rate unchanged. – SAnews.gov.za