S.African central bank raises key interest rate to 6.0%

South Africa's central bank has raised rates by 25 basis points to 6.0 percentSouth Africa’s central bank raised its benchmark interest rate by 25 basis points to 6.0 percent on Thursday ahead of an expected rate rise by the US Federal Reserve later this year. The Monetary Policy Committee, which is wrestling to balance anaemic growth with a weak rand and rising inflation, raised the repurchase rate for the first time in a year. “The persistence of forecast inflation at elevated levels and the continued upside risks of the outlook remain a concern of the MPC,” said Lesetja Kganyago, governor of the South African Reserve Bank.

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