JOHANNESBURG, Sept 22 – South Africa’s Reserve Bank left its repo rate unchanged on Thursday and struck a dovish note as it balanced its concerns for domestic economic growth with an expected increase in inflation stemming from a sharply weaker rand.
Governor Gill Marcus said the bank’s Monetary Policy Committee discussed a cut in the benchmark lending rate from its current 30-year low of 5.5 percent, although the final decision to keep it on hold was unanimous.
Source: Reuters Africa newsletter
Did you find this information helpful? If you did, consider donating.