SARB leaves repo rate unchanged at 7-percent
The South African Reserve Bank (SARB) has left the repo rate unchanged at 7-percent, with the prime lending rate remaining at 10.5 percent.
This was announced by SARB Governor Lesetja Kganyago at a media briefing in Pretoria.
In May, the bank raised the policy rate by 25 basis points to 7 percent.
Inflation remains above the bank’s 3 percent target.
Statistics South Africa’s latest inflation shows that inflation rose above analysts’ expectations to 5 percent in June.
Rising fuel prices due to the US-Iran war have been driving inflation pressures.