And we believe for the foreseeable future. if you are able to settle short-term debt fast, whilst the rate remains steady, then do so.
The Monetary Policy Committee today decided to hold the REPO rate by 3.5 % with prime to remain at 7.%.
The Reserve Bank revised the growth outlook for the economy from 3.8% to 4.2%, on the back of better sectoral growth and more robust trade.
Many analysts have stated that the Bank may in the early future raise rates, citing high oil prices and rising inflation, but we will have to wait and see. The next meeting of the committee will be from the 20th to the 22nd of July.
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