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South African reserve bank keeps repo rate at 7 percent
March 30, 2017 / 1:32 PM / 8 months ago

South African reserve bank keeps repo rate at 7 percent

PRETORIA, March 30 (Reuters) - South Africa’s central bank kept its benchmark repo rate unchanged at 7 percent on Thursday, in line with expectations, saying the exchange rate had re-emerged as a risk to inflation following an increase in domestic political uncertainty.

All 30 economists surveyed in a Reuters poll last week unanimously predicted the central bank would keep interest rates on hold, most betting that a cut would only come in early 2018. (Reporting by TJ Strydom and Olivia Kumwenda-Mtambo; Writing by Mfuneko Toyana; Editing by James Macharia)

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