The Reserve Bank has held the repo rate at 6.75, citing, inter alia, what appears to be a rupture in the global political order, South Africas food inflation affected by the foot-and-mouth disease outbreak as well as a stronger rand and a lower oil price assumption.
There are also new threats to central bank independence, Bank Governor Lesetja Kganyago said, adding that 2026 has begun with a new round of shocks.
Kganyago announced the decision on Thursday, following the monetary policy committees MPC first meeting of 2026. Two members favoured a cut, while four preferred a hold.
