South African Reserve Bank maintains interest rates as inflation rises

Even as the South African Reserve Bank expects inflation to move higher in the coming months, its Monetary Policy Committee (MPC) this afternoon elected to keep rates on hold.

Today’s decision leaves prime at 10.5%. Previously, there had been a 1.25 percentage point decline between last September and the last meeting in July.

Etienne Raubenheimer, the head of CFO Services at Outsourced CFO, said that stable rates provided households with a level of certainty.

By Nicola Mawson

Full story at IOL