South African Reserve Bank Governor, Gill Marcus has announced that interest rates will increase by 25 basis points, taking the rate to 5.75 percent.
The economic growth outlook has deteriorated since the last monetary policy committee meeting, Marcus told reporters in Pretoria.
In January, the committee increased the repo rate by 50 basis points to 5.5 percent. In March and May the repo rate remained unchanged.
Source : Sapa /dm/th/tk/fg
