South Africa Holds Interest Rate as Inflation Remains Steady

• SARB keeps repo rate at 7.5% following MPC meeting
• Decision comes as inflation remains within target range

Johannesburg, South Africa – The South African Reserve Bank (SARB) has left the repo rate unchanged at 7.5% following the meeting of the Monetary Policy Committee (MPC) on Thursday. The decision follows Statistics South Africa’s announcement Wednesday that the annual inflation rate remained steady at 3.2% in February. It also comes against the backdrop of consumer price inflation currently at 4.5%, well within the central bank’s target band of 3% to 6%. The SARB also left the lending rate unchanged in January.