South Africa's Reserve Bank has kept interest rates on hold
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As widely expected, the South African Reserve Bank kept the repo rate unchanged at 6.75%, as it contends with a weak economy and lower inflation. The bank's also lowered its 2019 growth forecast to 1%, citing weak business and consumer confidence, as well as growing pressure on household disposable income. Kevin Lings, Chief Economist at Stanlib and Investec's Chief Economist Annabel Bishop provide their views on the decision.