South African central bank holds rates in split decision
Sarb stays cautious as country continues to adjust towards new 3% inflation target
The South African Reserve Bank (Sarb) has held rates at 6.75% amid a small uptick in inflation.
Four of the six members of its monetary policy committee (MPC) voted for the hold today (January 29), while the two dissenters voted for a quarter-point cut.
In a statement, Lesetja Kganyago, the Sarb governor, said headline inflation had averaged 3.2% in 2025, close to the bank’s 3% objective. He noted that the figure for December was slightly higher at 3.6% but said this was due to temporary factors.
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