The South African Reserve Bank's Monetary Policy Committee MPC has decided to maintain the country's interest rates, keeping the repo rate at 7 and the prime lending rate at 10.50, reports Cape town Etc.
This announcement, made by Governor Lesetja Kganyago on Thursday, comes in the wake of an inflation reading of 3.3 for August, which is a slight improvement from 3.5 in July.
While this figure sits comfortably within the Reserve Bank's official target range of 3 to 6, it still hovers just above the bank's preferred target of 3.