Giant rate hike looms even as inflation slows.
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Worries over unanchored inflation expectations and increased depreciation pressure on the rand will probably see the South African Reserve Bank raise its key rate for a sixth straight meeting, said Sanisha Packirisamy, an economist at Momentum Investments.
Governor Lesetja Kganyago said in an interview September 8 that the central bank must do whatever it takes to ensure price growth is under control and on a downward trajectory toward the 4.5% midpoint of the monetary policy committee’s inflation-targeting range. Inflation has been above 4.5% since April 2021.
Governor Lesetja Kganyago said in an interview September 8 that the central bank must do whatever it takes to ensure price growth is under control and on a downward trajectory toward the 4.5% midpoint of the monetary policy committee’s inflation-targeting range. Inflation has been above 4.5% since April 2021.
