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SA Reserve Bank (Sarb) governor Lesetja Kganyago announced at the bank on Thursday that they decided to leave the repo rate without change.
The Sarb's #MPC Having decided that the repo rate should remain unchanged at 6.75% per annum.
– Newsweb News (@Moneyweb) March 28, 2019
The markets in general had expected the average bank to keep the repo rate at 6.75% behind a dividing divide.
Last year the bank raised the unexpected rate although there was still inflation within a target while economic growth remained concerned.
Kganyago: The previous MPC statement highlighted risks such as oil and fluctuating prices. Forecasts for Brent were revised up from $ 62 / barrel to $ 64 / barrel for 2019. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
The increase of 25 basis points to the figure of 6.75%. The level of principal loans increased to 10.25%.
Kganyago said the policy consultation unanimously decided the level without change today.
Kganyago: Global #GDP their expectation is that they may leave but risk is still in danger. Global geophitical hazards, including Brexit uncontrollable, could lead to a weakening of growth environments. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
The Rand weakened the toll on Thursday morning before the SARB stage decision later that day.
At lunchtime on Thursday, the Rand was trading at R14.69 / $ 1, up 0.61 per cent.
My plan is to drop my 2 out for Moody's out on South Africa on Friday and, internationally, it is expected to have a severe impact on Moody's t UK Brexit on British pound. Sterling has become worse as a result of uncertainty over leaving the EU's EU disregard for investment.
Kganyago: While global conditions are still unclear, the pace of growth is slow than expected. Concerns about ongoing trading pressures, tariff targets as well as country-specific factors. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
If Moody breaks down to US standards, this will boost the country to a point of under-investment and have identified funding weaknesses, as well as higher bond yields and short-term market rates.
Kganyago: Average # removal expectations have been falling since the end of 2017. The forecast growth in Q1 2019 has decreased from 5.4% to 4.8% for 2019. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
Kganyago: Global #GDP their expectation is that they may leave but risk is still in danger. Global geophitical hazards, including Brexit uncontrollable, could lead to a weakening of growth environments. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
Kganyago: From January #MPC meet, the Rand has reduced by 6.4% against the US dollar. #Barb
– Newsweb News (@Moneyweb) March 28, 2019
Kganyago: The MPC notes the recent consequences of inflation and welcomes a co-ordinated degree in inflation. Threats to a more balanced or balanced view of inflation. High prices (electricity, food, oil) are major threats. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
Kganyago: Domestic spending expenditure is still limited by low employment growth, electric circuits. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
Kganyago: The pressure is placed on electrical separation. Inflation continues to show amazing things hitting the other side. hyper-inflation linked to CPI was 4.1% in February, up from 4% in Jan. #Barb #MPC
– Newsweb News (@Moneyweb) March 28, 2019
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