South Africa Consumers Relax After Reserve Bank Maintained Repo Rate

Consumers in South Africa are breathing a sigh of relief after the Reserve bank decided to keep its benchmark repo rate unchanged at 6%. The bank's Monetary Policy Committee was unanimous in its decision. Despite widespread concerns that the rand would push up inflation and force the hand of the bank to hike, inflation came in lower and is expected to remain within the target band of 3-6% until the middle of 2016.
South Africa