South African Reserve Bank governor Lesetja Kganyago announced the repo rate will remain at 8.25% at a monetary policy committee (MPC) briefing in Pretoria on Wednesday. The decision was unanimous and the policy stance remained restrictive, the governor said.Core inflation rose to 5% due to an acceleration in services led by the medical aid component. He said this and high services inflation suggest South Africa is joining the global trend of services, rather than goods, becoming a major source of inflation.The economy expanded by 0.1% with supply-side problems such as load-shedding,…
