South Africa's interest rates expected to remain steady
Economist Mike Schussler says he expects interest rates to be kept on hold on Thursday afternoon.
The Reserve Bank is set to announce the Monetary Policy Committee's decision following its meeting.
The repo rate is currently at 3.5%, making the prime lending rate 7%.
Schussler says it's likely to remain unchanged because our economy is still fragile.
"At the moment, our interest rates are lower than inflation, but that's to be expected during a pandemic and riots in the country.
"So we'll have to see when South Africans think they'll start pushing up interest rates again. There's no expectation of it going lower.
"There's only the expectation of it staying the same. We will see an increase at some stage. Whether it's this year or only in the middle of next year we'll have to wait and see."
