South Africa and Egypt both hold policy rates

The central banks of South Africa and Egypt both held their key rates at their most recent monetary policy meetings.

The South African Reserve Bank (Sarb) held its policy rate at 8.25% for the second consecutive meeting, although its governor said inflation was falling too slowly.

The Sarb’s monetary policy committee voted 3–2 for the pause on September 21, with the minority backing a 25 basis point rate increase. The July session also split 3–2.

At the monetary policy press conference