The Reserve Bank has kept the repo rate on hold at 3.5%. All five members of the Monetary Policy Committee voted to keep rates unchanged, given the view that inflation would remain well-contained in 2021. The bank upwardly revised its GDP forecast for 2021 from 3.6% to 3.8%.

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Smile Staff Reporter
Smile Staff Reporter

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South Africa’s second phase of the COVID-19 vaccine rollout will begin in May. Cabinet today announced that this would be implemented over a period of six months, targeting more than 13 million South Africans. Those considered to fall under vulnerable groups, essential workers, as well as occupational health and safety streams would be prioritised.

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