{"id":7053,"date":"2021-03-25T19:34:53","date_gmt":"2021-03-25T19:34:53","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=7053"},"modified":"2021-03-25T17:26:05","modified_gmt":"2021-03-25T17:26:05","slug":"sarb-leaves-the-repurchase-rate-unchanged-at-3-5","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sarb-leaves-the-repurchase-rate-unchanged-at-3-5","title":{"rendered":"SARB leaves the repurchase rate unchanged at 3.5%"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>JOHANNESBURG &#8211; The South African Reserve Bank (SARB) has decided to leave the repurchase rate (repo rate) unchanged at 3.5 percent as expectations of future inflation have eased further in the first quarter of this year.<\/p>\n<p>In its first rates decision for the year, Sarb\u2019s Monetary Policy Committee (MPC) decided to hold interest rates in a unanimous decision.<\/p>\n<p>Sarb Governor Lesetja Kganyago today said the overall risks to the inflation outlook appear to be balanced.<\/p>\n<p>Kganyago said the MOC had noted the significant, but likely temporary, reduction in medical insurance price inflation this year after a number of medical aid schemes did not raise their premiums.<\/p>\n<p>\u201cWhile global food price inflation remains high, local food price inflation is slightly lower than previously expected and should remain broadly contained due to higher local crop production,\u201d Kganyago said.<\/p>\n<p>\u201cOil prices have increased sharply this year and are expected to remain at these levels over the forecast horizon. Electricity and other administered prices remain upside risks to the inflation trajectory.\u201d<\/p>\n<p>The bank\u2019s consumer inflation forecast for 2021 is higher at 4.3 percent, up from 4 percent, while core inflation forecast for 2021 is slightly lower at 3.3 percent, down from 3.4 percent.<\/p>\n<p>Kganyago said the implied policy rate path of the Quarterly Projection Model (QPM) indicated an increase of 25 basis points in each of the second and fourth quarters of 2021. He said the shift in the rate path from the third to the fourth quarter is due to somewhat lower inflation in 2022.<\/p>\n<p>\u201cThe MPC will seek to look through temporary price shocks and focus on second round effects,\u201d Kganyago said.<\/p>\n<p>\u201cAs usual, the repo rate projection from the QPM remains a broad policy guide, changing from meeting to meeting in response to new data and risks.\u201d<\/p>\n<p>[email protected]<\/p>\n<p><b>BUSINESS REPORT ONLINE<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. JOHANNESBURG &#8211; The South African Reserve Bank (SARB) has decided to leave the repurchase rate (repo rate) unchanged at 3.5 percent as expectations of future inflation have eased further in the first quarter of this year. In its first rates decision for the year, Sarb\u2019s Monetary Policy Committee (MPC) decided to hold [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":7052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-7053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SARB leaves the repurchase rate unchanged at 3.5% - South Africa<\/title>\n<meta name=\"description\" content=\"JOHANNESBURG - The South African Reserve Bank (SARB) has decided to leave the repurchase rate (repo rate) unchanged at 3 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sarb-leaves-the-repurchase-rate-unchanged-at-3-5\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SARB leaves the repurchase rate unchanged at 3.5%\" \/>\n<meta property=\"og:description\" content=\"JOHANNESBURG - 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