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.
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