No changes to repo rate

The South African Reserve Bank (Sarb) decided to keep the repo rate steady at 3.5% on Thursday, following the conclusion of its latest Monetary Policy Committee (MPC) meeting.

This is in-line with the expectations of most economists and market commentators.

The unanimous decision to hold the rate for the fourth consecutive MPC meeting means that the prime lending rate of commercial banks remains at a more than four-decade low of 7%.