JOHANNESBURG, April 12: South Africa's central bank held its repo rate steady at nine per cent on Thursday in line with expectations. Reserve Bank Governor Tito Mboweni told a press conference an unchanged stance continued to be appropriate despite a deterioration in the inflation outlook.

Eleven of 18 economists polled by Reuters last week had predicted the Reserve Bank would keep its repo rate steady at 9 per cent, with seven predicting a 50 basis point hike.

—Reuters