Unchanged interest rate is no surprise
The latest Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) statement was again surprise-free, the committee having, for the sixth time over the past year, kept interest rates unchanged.
In commenting on the decision by the MPC to again leave interest rates unchanged, Prof Raymond Parsons, economist from the North-West University (NWU) Business School, says that, as expected, borrowing costs will therefore remain higher for consumers and business for longer.