Interest rates unchanged despite inflation outlook improving

The South African Reserve Bank has kept the prime lending rate at 10.25%, with two members favouring a 0.25 percentage point cut and four preferring a hold.

Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), said that the backdrop to the decision was that the risks to the inflation outlook were balanced.

Ahead of the announcement, there were hopes that the rates would come down to help boost economic growth.

By Nicola Mawson

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