Reserve Bank governor Lesetja Kganyago. (Waldo Swiegers/Bloomberg via Getty Images)
The South African Reserve Bank cut interest rates by 25 basis points on Thursday, citing an upside risk to inflation outlook and bringing the benchmark repo rate to 7.5% while the prime lending rate is now at 11%.
The widely expected decision was not unanimous. Two of the central bank’s six monetary policy committee (MPC) members wanted to leave rates unchanged, while four supported the decrease,…
