Economics
South African Central Bank Holds Rate as Fiscal Risks Loom
- Decision to keep repurchase rate at 6.5% was unanimous
- Policy actions to focus on midpoint of target, Kganyago says
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South Africa’s central bank kept its benchmark interest rate unchanged and may only continue its easing when uncertainties about government finances and the nation’s credit ratings have been cleared up.
The Monetary Policy Committee voted unanimously to maintain the repurchase rate at 6.5%, Governor Lesetja Kganyago told reporters Thursday in the capital, Pretoria. The decision was in line with the forecast of all but four of the 18 economists in a Bloomberg survey.