Economics
South Africa’s Central Bank Keeps Benchmark Rate Unchanged
- Inflation accelerated to a 10-month high in December
- Nation’s key lending rate has been steady since March 2015
Lesetja Kganyago
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s Reserve Bank kept borrowing costs unchanged for a fifth straight meeting even as inflation forecasts worsened.
The Monetary Policy Committee unanimously decided to leave the benchmark repurchase rate at 7 percent, Governor Lesetja Kganyago told reporters Tuesday in the capital, Pretoria. That’s in line with the forecast of all 24 economists surveyed by Bloomberg.