SARB keeps repurchase rate at 6.5%

South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at the last meeting in March of the central bank's seven-member monetary policy committee (MPC) chaired by governor Lesetja Kganyago.