Kganyago says Sarb needs support from fiscal and macro policy


Lesetja Kganyago

SARB governor, Lesetja Kganyago

The South African Reserve Bank left interest rates at 3.5% today (November 19), but its governor urged authorities to implement macroeconomic and fiscal policies to support the economy.

In a press conference, governor Lesetja Kganyago said the monetary policy committee was split in its decision: two members preferred a cut, and three voted to hold rates.

Since the start of the year, the central bank’s MPC has cut interest rates by 300 basis points; the latest cut occurred in July.


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