South Africa Central Bank Holds Rates, Citing Inflation Concerns.

The South African central bank has decided to maintain its benchmark interest rate at 8.25%, the highest level in 15 years, due to concerns about inflation. This decision was in line with the expectations of most economists, although some had anticipated a rate cut. The central bank is committed to reducing inflation and will only consider loosening policy once consumer prices return to the target range of 4.5%. Inflation in May remained steady at 5.2%. [Extracted from the article]