South Africa Holds Benchmark Rate as Inflation Outlook Cools

The South African Reserve Bank paused its easing cycle amid a slightly cooler outlook for inflation. The rand gained.

The six-member monetary policy committee maintained the benchmark interest rate at 6.75%, Governor Lesetja Kganyago told a briefing in Pretoria, the capital, on Thursday. The vote was split, with four members in favor of a hold and two preferring a 25-basis-point cut.