Rand plunges 2.5% against US dollar as SARB keeps repo rate unchanged
The committee agreed that the outlook is uncertain, and with the rate increase at our previous meeting, the policy stance is appropriate for now with rates somewhat restrictive.5% against the greenback after the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) kept the repo rate unchanged at 7%.
Kganyago says, “The committee decided to keep the policy rate unchanged at 7%.
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