SARB has held the repo rate unchanged at 6.50% today - TD Securities

Eren Sengezer FXStreet

Commenting on the South African Reserve Bank's policy announcements, "The SARB has held the repo rate unchanged at 6.50% today, in line with the consensus but against our call for a cut," noted TD Securities analysts.

Key quotes

"The domestic and global environment remain broadly compatible with further easing; market risks and slower convergence of inflation expectations don't."

"The MPC has voted unanimously, demonstrating significant resilience to dovish signals, but strong sensitivity to market volatility. We roll our forecast for a 25bps cut into the November meeting from today, but stand ready to reassess in a more hawkish direction."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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