JOHANNESBURG (Reuters) – South Africa’s Reserve Bank left interest rates unchanged at 5.75 percent as expected on Thursday, saying the overall risks to the inflation outlook were more or less balanced, with no evidence of excess demand pressures on inflation.
“The MPC is aware that the moderation in inflation could raise expectations of lower interest rates,” Governor Lesetja Kganyago said after a meeting of the bank’s Monetary Policy Committee (MPC).
“The MPC is of the view that the bar for further accommodation remains high and would require a sustained decline in the inflation rate and inflation expectations.”
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