Stability in borrowing costs is positive for consumer confidence
As was widely expected, the Monetary Policy Committee (MPC) again decided by a vote of three to two to continue to keep interest rates on hold, following a similar decision at the previous meeting of the MPC on 20 July.
Prof Raymond Parsons, economist from the North-West University (NWU), says this further “hawkish pause” outcome was the right decision by the MPC, taking into account the overall global and domestic factors at present shaping South Africa’s economic environment.