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S.Africa's cbank leaves repo rate steady at 5.0 pct
November 22, 2012 / 1:26 PM / 5 years ago

S.Africa's cbank leaves repo rate steady at 5.0 pct

PRETORIA, Nov 22 (Reuters) - South Africa’s Reserve Bank left its benchmark repo rate unchanged at 5.0 percent on Thursday despite acknowledging that the economy is in stress, citing a deterioration in the inflation outlook.

All 22 economists polled by Reuters last week said the Reserve Bank’s Monetary Policy Committee would leave rates unchanged at 40-year lows, with nearly half expecting the next move most likely in late 2013 or the beginning of 2014.

The central bank has left rates unchanged at all its policy meetings this year except for July, when it decided on a surprise cut of 50 basis points. (Reporting by Ed Stoddard; Writing by Stella Mapenzauswa; Editing by David Dolan)

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