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Reserve Bank governor Lesetja Kganyago insisted that monetary policy remained accommodative even after the Bank took the first step in raising rates after taking them to record lows in the face of the Covid-19 outbreak and lockdowns.

The monetary policy committee (MPC) on Thursday raised rates by 25 basis points to 3.75% in a closely watched move that kept market players guessing in the run-up to the announcement...

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