The decision, announced by central bank governor Lesetja Kganyago in Pretoria, keeps commercial banks’ prime interest rate at 10.25%. Kganyago said the MPC decision on Thursday was split, with two members in favour for a 25-basis-point cut, while four voted for holding rates steady. Most economists and market watchers had expected a tight vote, with the view that any further Sarb cut would likely only come in March, favouring a cautious wait-and-see approach. ADVERTISEMENT: CONTINUE READING BELOWRead: Fed holds rates as window for another Powell cut begins to closeOn the South African economy, the Sarb governor was more optimistic. “We hope this investment recovery will be sustained, allowing the economy to achieve structurally higher growth,” he said.