South Africa to Maintain Rate Pause as Inflation Holds Steady.

South Africa's inflation rate remained steady in May, with consumer prices rising by 5.2% annually, the same as in April. This is likely to result in the central bank maintaining its current borrowing costs, which are at a 15-year high of 8.25%. The governor of the central bank has expressed concern about the inflation rate not decreasing as desired, and has stated that borrowing costs will only be lowered when inflation is firmly within the target range of 3% to 6%. Traders are now pricing in a 36% chance of a 25-basis point cut in July. [Extracted from the article]