South Africa’s Central Bank says interest rates to be unchanged in short term

PRETORIA (Reuters) – South Africa’s central bank will keep interest rates unchanged in the short term as it lowered its inflation outlook but will monitor European and U.S economic events closely, deputy governor Daniel Mminele said on Tuesday.

“The more benign projected inflation path… gives the Bank some room to pause in its interest rate normalisation process,” Mminele told an annual gathering at the South African Reserve Bank.