JOHANNESBURG, May (ANA) - South Africa's Reserve Bank kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5 percent on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy
The move follows a 25 basis point decrease at the last meeting of the central bank's monetary policy committee (MPC) in March.
"With risks and uncertainties at high levels, the MPC will maintain its vigilance to ensure that inflation remains well within the inflation target range, and will adjust the policy stance should the need arise," bank governor Lesetja Kganyago told a news conference.
- African News Agency (ANA)
