While central banks across the world are easing monetary policy in the face of trade uncertainty and decelerating global growth, the South African Reserve Bank (SARB) has chose to leave rates unchanged at 6.5% in September.
BoE Governor Mark Carney - who is due to step down on January 31 - has said his personal view is that the BoE is more likely to need to cut rates after a no-deal Brexit.
The Bank said, "Political events could lead to a further period of entrenched uncertainty about the nature of and the transition to the UK's eventual future trading relationship with the EU". "In the event of a no-deal Brexit, the exchange rate would probably fall, CPI inflation rise and GDP growth slow", the BoE said Thursday.
A report in the Financial Times that British Prime Minister Boris Johnson had told colleagues he did not expect to be able to reach full "legally operable" deal covering the Irish border at a meeting of European Union leaders also weighed on sterling.
Should Brexit uncertainty continue squeezing vitality out of Britain, the BOE will be forced to turn on the monetary policy life support to prevent the economy from flatlining.
The major economic impact of Britain's vote in June 2016 has been on business investment, which has come in way lower than would have been anticipated at a time of global growth.
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The pound fell against both the euro (GBPEUR=X) and the dollar (GBPUSD=X) when the data was published, as investors bet the below-target reading meant the Bank of England was nearly guaranteed not to raise rates on Thursday. A no-deal Brexit at the end of October raises the prospect of tariffs and other barriers imposed on trade.
Kganyago said forecast of GDP growth for 2019 remains unchanged at 0.6%.
Kganyago noted that while growth rebounded in the second quarter, longer-term weakness in most sectors remain a serious concern. "In such an eventuality, domestically generated inflationary pressures would be reduced", the MPC said.
"There is an increasing air of caution creeping into the narrative", said James Smith, developed markets economist at ING.
But official figures on Wednesday showing inflation fell back to a lower-than-expected 1.7% in August - its lowest level for nearly three years - offers the Bank potentially much-needed wriggle room should it need to cut rates.
David Cheetham, chief market analyst at XTB, said: "The bank appears to have broadly maintained its prior stance, offering little by the way of any dovish signs despite the recent softness in data".