The Reserve Bank will maintain current interest rates, governor Gill Marcus said on Thursday.

It would leave the repo rate unchanged at 5.5 percent once again.

However, the bank would continue to closely monitor the situation and stood ready to act in either direction, she said.

The prime rate would stay at nine percent.

This was the ninth consecutive meeting where the repo rate remained unchanged, after it was reduced by 650 basis points between mid-2008 and November 2010.

It keeps the rate at its lowest level in over 30 years.

The decision followed a meeting of the bank's Monetary Policy Committee in Pretoria.