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South African central bank holds repo rate at 3.5%

20th May 2021

By: Reuters

  

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South Africa's central bank left its repo rate unchanged at 3.5% in a unanimous decision on Thursday, saying it saw the inflation risk on the upside and that the current lending rate was supportive of an economic recovery.

The Reserve Bank (SARB) has now kept rates on hold in its last five meetings, resisting pressure to match rate hikes by fellow emerging market central banks.

The decision was in line with a Reuters poll last week, where all of the 25 economists polled expected unchanged rates.

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Edited by Reuters

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