Reserve Bank keeps repo rate unchanged
(WorldNews Business)

The South African Reserve Bank (SARB) has kept the repo rate unchanged at 6.5%. The repo rate determines the interest rate to which the central bank lends money to commercial banks — which then affects the rate at which they lend to their consumers. The bank also uses the rate to affect the inflation rate (if people have to pay back less on things such as mortgages, they will have more to spend, which then stimulates the economy). Inflation is the rate at which things become more...