Live Updates > Live Update Details
2025-09-18 22:26:22
[South African Reserve Bank maintains key interest rate unchanged to assess the impact of previous rate cuts] The African Central Bank maintained its benchmark lending rate at 7% on Thursday, suspending further monetary easing while assessing the effects of previous rate cuts. This policy statement is the first resolution made by the South African Reserve Bank after it announced that it would adjust the inflation target from the mid-point of the 3%-6% range to the lower limit of the range, aiming to consolidate the low inflation results. South African Reserve Bank Governor Kganyage said that the effects of the cumulative 125 basis points of interest rate cuts since September 2024 are still continuing to be transmitted in Africa's largest economy. "We need to observe the impact of these measures on the economy, the expected evolution path, and the resolution of inflation risks," Kganyage said at a press conference.
