Pretoria - South Africa's Reserve Bank kept its benchmark repo rate unchanged at 7 percent on Thursday, saying that while it was still concerned about inflation, the weak economy had provided some room to delay further policy tightening.
“The MPC (monetary policy committee) is aware that some of the favourable factors that contributed to this decision could reverse quickly, and remains ready to react appropriately to any significant change in the inflation outlook,” Governor Lesetja Kganyago told a news conference.
Reuters