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South African central bank keeps key rate steady

20th March 2025

By: Bloomberg

  

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South Africa's central bank kept its main lending rate steady at 7.50% on Thursday, saying that a cautious policy approach was needed given global and domestic uncertainties.

The decision was in line with the median forecast of economists polled by Reuters and follows rate cuts at the previous three monetary policy meetings.

Annual inflation was steady at 3.2% in February, unchanged from the previous month and still near the bottom of the South African Reserve Bank's 3%-6% target range.

The Monetary Policy Committee's decision was split, with four members supporting an unchanged stance and two members preferring a 25 basis point cut.

Edited by Bloomberg

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