South Africa’s central bank kept its benchmark repo rate unchanged at 6.75 percent on Thursday, saying that risks to the inflation forecast were still assessed to be on the upside.

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The majority of analysts polled by Reuters last week had predicted the repo rate would stay on hold.

Central bank governor Lesetja Kganyago told a news conference that five members of the monetary policy committee had voted to hold rates and one member had voted for a 25 basis point cut.