The repo rate is to remain unchanged at 5.75% per annum, the Reserve Bank said on Thursday.
“The Monetary Policy Committee [MPC] has decided to keep the repurchase rate unchanged at this meeting,” said Reserve Bank Governor Lesetja Kganyago.
The repo rate has remained unchanged since a 25 basis points rate hike in July 2014.
The governor said four members of the committee favoured an unchanged stance while two members of the committee favoured a 25 basis point increase.
However, the MPC noted that the deteriorating inflation outlook suggests that this unchanged stance cannot be maintained indefinitely.
The prime lending rate in South Africa is 9.25 %