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South African central bank holds repo rate at 6.75%

governor_lesetja_kganyago_-_flickr

South Africa’s central bank kept its benchmark repo rate unchanged at 6.75 percent on Thursday, saying that risks to the inflation forecast were still assessed to be on the upside.

The majority of analysts polled by Reuters last week had predicted the repo rate would stay on hold.

Central bank governor Lesetja Kganyago told a news conference that five members of the monetary policy committee had voted to hold rates and one member had voted for a 25 basis point cut.

Credit: CNBC Africa

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