The SA Reserve Bank's (SARB) Monetary Policy Committee had opted to leave interest rates unchanged, the bank's governor Gill Marcus said on Thursday.
"The monetary policy committee is of the view that a further reduction in the repo rate would not be appropriate at this stage," she said at a televised news conference in Pretoria.
The repo rate would be left unchanged at five percent a year.
This is the rate at which commercial banks can borrow money from the SARB.
It is used to calculate the prime rate, which banks give their best customers.