South Africa’s central bank on Thursday cut its main lending rate by 25 basis points to 6.75%, easing fears that a recently lowered inflation target would limit its room to ease policy.
The Monetary Policy Committee voted unanimously for the cut, the bank said after its first meeting since the target change.
“Members agreed there was scope now to make the policy stance less restrictive, in the context of an improved inflation outlook,” Governor Lesetja Kganyago told reporters.
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