South Africa leaves benchmark rate unchanged after boosting GDP forecast

Author: Adam Button | Category: Central Banks

South African reserve bank leaves main rate at 6.50%

  • Unanimous decision
  • MPC still sees policy as accommodative
  • Statement says implied path of policy sees one 25 bps hike in Q4, another in mid-2019
  • Maintains 2018 GDP forecast at 1.7%
  • Boosts 2019 GDP forecast to 1.7% from 1.5%
No reaction in the rand, which is higher today.

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