South Africa's central bank maintains 8.25% interest rate to reach a 4.5% inflation target.
South Africa's central bank aims to rebuild confidence in reaching its 4.5% inflation target, with Governor Lesetja Kganyago noting the current rate of 5.2%. The bank's monetary policy committee has maintained the benchmark interest rate at 8.25% to achieve the goal. Despite a comparatively mild recent inflation, South Africa is projected to have the third-worst inflation rate among G20 economies by 2026.
June 26, 2024
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