South Africa’s Central Bank Holds Interest Rates as Inflation Fight Continues

South Africa‘s central bank has decided to maintain its benchmark interest rate at 8.25%, which is at its highest level since 2009. The decision was announced by Governor Lesetja Kganyago in a briefing held north of Johannesburg on Thursday.

This marks the fourth consecutive meeting where the interest rate remains unchanged. The decision aligns with the expectations of 19 economists surveyed by .

The South African Reserve Bank’s decision reflects their ongoing efforts to combat inflation and ensure price stability. Despite the sustained rate, the central bank made it clear that their fight against inflation is far from over.