MPC Announcement: September 2022
SARB Governor Lesetja Kganyago delivered an MPC announcement on September 22. It was decided that the repurchase (repo) rate be raised to 6.25%.
The 22 September MPC’s decision to raise the repo rate by 75bps was widely expected. The surprise, however, was that two of the five members favoured a 100bps rate hike, making the decision a hawkish one, similar to the Fed’s decision the previous evening.