Central bank holds key rate in expected move

It is the second meeting in a row that the bank has left its repo rate on hold. Nearly all analysts polled by Reuters had forecast that the rate would be left unchanged.

Inflation edged up to 4.8% year-on-year in August from 4.7% in July, data showed on Wednesday, remaining well within the central bank's target range of 3%-6%.

The South African Reserve Bank's (Sarb) Monetary Policy Committee has stressed that it wants to see inflation sustainably around the midpoint of its target range before it considers rate cuts.