South Africa keeps rate at 6.75%, says risks to inflation rising

South Africa’s central bank kept its benchmark repo rate at 6.75% on Thursday, in-line with expectations, citing increased risks to inflation posed by currency weakness, possible credit downgrades and political jostling. "The lead-up to the African National Congress national elective conference and its uncertain outcome is also likely to continue to weigh on the currency," governor Lesetja Kganyago said, referring to the ruling party’s conference in December to elect a successor for President Jacob Zuma as its head.