The South African Reserve Bank left its key interest rate unchanged at 7 percent as policymakers decided to adopt a wait-and-watch stance following a year-long easing and they also assessed that inflation is set to rise in the coming months due to higher prices for electricity, food and services, while economic growth is set to strengthen. The Monetary Policy Committee decided to hold the rate steady after a year-long easing in a split vote. Four policymakers preferred to keep rates on hold, while two favored a cut of 25 basis points, SARB Governor Lesetja Kganyago said in a statement.
The SARB reduced rates by 125 basis points since September last year. "…we want to see how this is affecting the economy, how expectations evolve, and how inflation risks are resolved," Kganyago said.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.