# Repo rate remains unchanged | SAnews

> The South African Reserve Bank kept its repo rate unchanged at 8.25% and warned that load shedding, weak commodity export prices and strong El Niño conditions threaten the outlook. The rand had depreciated about 10% year to date.

- Date: 2023-09-21 · published 2023-09-21T12:00:00.000Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/34408-repo-rate-remains-unchanged-sanews
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher-for-longer rates and a weaker rand raise the cost of imported feed for South African buyers, while El Niño risks to local agriculture could tighten domestic grain and feed supply.

## Read by commodity

- CORN: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-03-01 | [U.S. grains: Corn, soyoil climb on biofuels news - Grainews](https://feedsoft.ai/events/7821-u-s-grains-corn-soyoil-climb-on-biofuels-news-grainews.md) | -0.7% | -1.8% |
| CORN | 2025-12-04 | [Fertilizer markets soften but remain constrained by trade policies](https://feedsoft.ai/events/5185-fertilizer-markets-soften-but-remain-constrained-by-trade-policies.md) | +0.4% | +0.1% |
| CORN | 2019-06-12 | [Trump touts ethanol victory, but Iowans say waivers undermine gains](https://feedsoft.ai/events/58481-trump-touts-ethanol-victory-but-iowans-say-waivers-undermine-gains.md) | +3.7% | +1.8% |
| CORN | 2022-07-19 | [Injunction allows Monsanto to sow GM corn, use glyphosate](https://feedsoft.ai/events/40466-injunction-allows-monsanto-to-sow-gm-corn-use-glyphosate.md) | -9.0% | -1.2% |
| CORN | 2019-08-14 | [AgriCensus Report](https://feedsoft.ai/events/57424-agricensus-report.md) | -1.2% | -4.0% |

## Sources

- sanews.gov.za: https://www.sanews.gov.za/south-africa/repo-rate-remains-unchanged-2

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.