South Africa Holds Interest Rates as Inflation Worry Lingers
- Central bank maintains benchmark rate at 2009 high of 8.25%
- All five members of the MPC backed an unchanged stance
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South Africa’s central bank held its benchmark interest rate at a 2009 high, while signaling that its fight to quash inflation is not yet done.
The monetary policy committee maintained the rate at 8.25% for a fourth consecutive meeting, Governor Lesetja Kganyago said at a briefing north of Johannesburg on Thursday. That matched the median estimate of 19 economists in a Bloomberg survey.