SARB keeps repo rate unchanged

South Africa's Reserve Bank left its benchmark repo rate unchanged at 5.0 percent on Thursday despite acknowledging that the economy is in stress, citing a deterioration in the inflation outlook.

All 22 economists polled by Reuters last week said the Reserve Bank's Monetary Policy Committee would leave rates unchanged at 40-year lows, with nearly half expecting the next move most likely in late 2013 or the beginning of 2014.

Central bank govenor Gill Marcus. Photo: Mxolisi Madela. Credit: Independent Newspapers

The central bank has left rates unchanged at all its policy meetings this year except for July, when it decided on a surprise cut of 50 basis points. - Reuters