PRETORIA - The South African Reserve Bank has left the interest rates unchanged.
The repo rate will remain at 6.75%.
The prime lending rate remains at 10.25%.
Reserve Bank Governor Lesetja Kganyago said the decision to keep the policy rate unchanged was unanimous.
Jumping oil prices have raised fears of future interest rate hikes as the war in the Middle East continues.
"The ongoing Middle East conflict is a clear instance of a supply shock, which raises prices while weakening demand. The standard response to a supply shock is to look through first-round effects, which are unavoidable and cannot be stopped by interest rate changes. At the same time, central banks should be alert to second-round effects, where an initial shock triggers broad price increases," Kganyago said.