READ MORE: Reserve Bank cuts benchmark repo rate, as expected
The fact that the repo rate has not changed means the prime lending rate will remain at 10%.
At the same briefing, Kganyago also announced a downgrade in growth projection.
Kganyago said the central bank expects GDP growth of 1.2% in 2018, down from its previous estimate of 1.7%.
Regarding growth, he said “the outlook remains constrained.”
SARB expects growth to increase to 1.9% in 2019.
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