Consumers banking on significant interest rate cuts before the elections had their hopes dashed this week when Reserve Bank governor Lesetja Kganyago held the line, keeping interest rates steady and warning that inflation remains a risk to the economy.

Sticking to the Bank’s inflation-targeting regime, Kganyago and his monetary policy committee (MPC) kept the repo rate at 8.25% and said inflation needed to settle at the midpoint of the Bank’s 3%-6% target range...

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