November 21, 2019 / 1:18 PM / 2 months ago

South African Reserve Bank keeps repo rate at 6.5%

PRETORIA, Nov 21 (Reuters) - The South African Reserve Bank kept its repo rate unchanged at 6.5% on Thursday, saying that the overall risks to the inflation outlook were balanced.

Twenty-one of the 28 economists polled by Reuters last week said the repo rate would remain on hold, while the remaining seven said the monetary policy committee (MPC) would cut rates by 25 basis points (bps).

Three members of the MPC preferred to keep the repo rate on hold and two preferred a cut of 25 bps. (Reporting by Mfuneko Toyana and Naledi Mashishi Writing by Alexander Winning Editing by Tim Cocks)

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