South Africa Holds Rates at 15-Year High on Inflation Worry.

South Africa's central bank has decided to maintain its borrowing costs at a 15-year high of 8.25% in its final rate-setting meeting before the upcoming elections in May. The bank expects inflation to return to the midpoint of its target range later than anticipated, with the target midpoint only being reached at the end of 2025. The decision to keep rates unchanged is likely to face criticism from politicians and labor unions, as the ruling African National Congress is at risk of losing its majority for the first time since 1994. The central bank's next rate decision will be announced on May 30, the day after the election. [Extracted from the article]