South African Rand Steady as Central Bank Holds Interest Rate

The South African rand remained largely unchanged on Thursday after the South African Reserve Bank (SARB) opted to keep its benchmark interest rate steady.

The central bank left the key repurchase rate at 8.25%, in line with market expectations, citing ongoing concerns about inflation and global economic uncertainty.

Traders and analysts had widely anticipated the hold, with the SARB signaling a cautious approach amid persistent price pressures and a fragile economic outlook.

At midday, the rand was trading flat against the U.S. dollar, reflecting muted market reaction to the announcement.

The SARB's decision comes as central banks around the world grapple with balancing inflation control and economic growth.