South Africa's inflation rate was steady at 3.2% year on year in February, , the statistics agency said on Wednesday, a day before the central bank is expected to pause its rate-cutting cycle.

Statistics SA released the February year-on-year inflation figures and the South African Reserve Bank (SARB) decided to maintain the repo rate at its current 7. 5%. Accordingly, the prime lending rate remains 11%.

As the South African Reserve Bank’s Monetary Policy Committee (MPC) gears up for its meeting on Thursday, 20 March 2025, market watchers expect a potential 25 basis point rate cut amid stabilised domestic inflation and a stable rand,