SA Reserve Bank's MPC holds repo rate unchanged at 8.25%

JOHANNESBURG - The South African Reserve Bank (SARB) has kept the repo rate unchanged at 8.25%.
 
The central bank's governor, Lesetja Kganyago, announced the rate decision on Thursday afternoon, making this the sixth time the bank has decided not to increase interest rates.

This hold comes as the country's repo rate sits at a 14-year-high, with CPI dropping for two consecutive months.
 
Kganyago said that the decision was unanimous.
 
"We have revised our load shedding assumption down, but additional revisions may be required if this performance is sustained. Our forecast shows a modest acceleration in growth over the next few years, alongside a gradual stabilisation of inflation at our target."