Reserve Bank Governor Lesetja Kganyago has told the media that interest rates are unlikely to change any time soon.
He recently said: “The inflation outlook is uncertain, and it’s been volatile. Until inflation stabilizes where we want it, at 4.5%, and is sustained there, we don’t see why we should change our monetary policy stance”.
It seems that experts are all saying this will mean that the SARB is probably going to leave the Repo Rate unchanged at 8.25% this month.
This will mean that stressed consumers are not going to see a few extra Rand back in their pockets and will have to keep paying high premiums for their debt.